Gov. Murphy Proposes $58 Billion Budget
–
February 26, 2025
Governor’s Final Budget Includes $1.2 Billion Deficit
On Feb. 25, Governor Phil Murphy delivered his budget proposal for New Jersey’s 2026 fiscal year, which begins July 1. Budget spending is $1.4 billion (2.7%) more than the signed current fiscal year budget of $56.6 billion.
The proposed $58.05 billion budget includes the following:
- $7.2 billion full pension payment
- $6.3 billion surplus
- Nearly $4.3 billion in direct property tax relief
- $1.3 billion for pre-K and $12.1 billion for K-12 schools
- $1.5 billion for NJ Transit, including $815 million from the corporate transit fee
- $1.2 billion in new fees and taxes, including tax increases for reality transfers, sports betting, alcohol, adult-use marijuana and cigarettes
- $100 million for expanding apprenticeship programs and workforce development
- Tax credit for manufacturing next-generation products in New Jersey
- A cap on new discretionary spending
There is a $1.2 billion structural budget deficit.
The budget has to be approved by the Assembly and the Senate and signed into law by June 30.
Read More
Provide Your Feedback
Learn More
Lawmakers, Business Leaders Weigh In
June 3 - 6, 2025Atlantic City
FeaturedApril 16, 2025Live Webcast
April 16, 2025Live Webcast
April 16, 2025Live Webcast
April 21, 2025Live Webcast
April 23, 2025Webcast Replay
April 25, 2025Live Webcast
April 29, 2025Webcast Replay
April 29, 2025Live Webcast
May 1, 2025Webcast Replay
May 5, 2025Webcast Replay
May 12 - 15, 2025Live Webcast
May 13, 2025Webcast Replay
May 16, 2025Red Bank & Live Webcast
May 16, 2025Webcast Replay
May 19 - 22, 2025Live Webcast
May 20, 2025Webcast Replay
May 28, 2025Webcast Replay
May 29, 2025Webcast Replay
June 2 - 5, 2025Live Webcast
June 10, 2025Live Webcast
June 13, 2025Live Webcast
June 16, 2025Live Webcast
June 18, 2025Live Webcast
June 18, 2025Live Webcast
June 23, 2025Live Webcast
June 24, 2025Live Webcast
June 25, 2025Live Webcast
June 27, 2025Live Webcast
July 14 - 17, 2025Live Webcast
July 22, 2025Live Webcast
July 23, 2025Live Webcast
July 23, 2025Live Webcast
July 25, 2025Live Webcast
August 5, 2025Live Webcast
August 12, 2025Live Webcast
August 13, 2025Live Webcast
August 13, 2025Live Webcast
August 15, 2025Live Webcast
August 15, 2025Live Webcast
August 15, 2025Live Webcast
August 18 - 20, 2025Atlantic City
August 20, 2025Live Webcast
August 21, 2025Live Webcast
August 22, 2025Live Webcast
August 25, 2025Live Webcast
August 25, 2025Live Webcast
August 25, 2025Live Webcast
August 26, 2025Live Webcast
September 2 - 5, 2025Live Webcast
September 10, 2025Live Webcast
September 10, 2025Live Webcast
September 15 - 18, 2025Live Webcast
September 17, 2025Live Webcast
September 17, 2025Live Webcast
September 19, 2025Live Webcast
September 19, 2025Live Webcast
September 22, 2025Live Webcast
September 23, 2025Live Webcast
September 25, 2025Live Webcast
September 26, 2025Live Webcast
September 29, 2025Live Webcast
September 29, 2025Live Webcast
October 9, 2025Live Webcast
October 14, 2025Live Webcast
October 15, 2025Live Webcast
October 15, 2025Live Webcast
October 17, 2025Live Webcast
October 17, 2025Live Webcast
October 17, 2025Live Webcast
October 20 - 23, 2025Live Webcast
October 20, 2025Live Webcast
October 21, 2025Live Webcast
October 21, 2025Live Webcast
October 22, 2025Live Webcast
October 23, 2025Live Webcast
October 24, 2025Live Webcast
October 27, 2025Live Webcast
October 27, 2025Live Webcast
October 27 - 30, 2025Live Webcast
October 28, 2025Live Webcast
October 28, 2025Live Webcast
October 29, 2025Live Webcast
October 31, 2025Live Webcast
October 31, 2025Live Webcast
October 31, 2025Live Webcast
October 31, 2025Live Webcast
November 3, 2025Live Webcast
November 4, 2025Live Webcast
November 5, 2025Live Webcast
November 6, 2025Live Webcast
November 6, 2025Live Webcast
November 6, 2025Live Webcast
November 6, 2025Live Webcast
November 7, 2025Live Webcast
November 7, 2025Live Webcast
November 7, 2025Live Webcast
November 7, 2025Live Webcast
November 7, 2025Live Webcast
November 10, 2025Live Webcast
November 10, 2025Live Webcast
November 12, 2025Live Webcast
November 12, 2025Live Webcast
November 12, 2025Live Webcast
November 13, 2025Live Webcast
November 14, 2025Live Webcast
November 14, 2025Live Webcast
November 14, 2025Live Webcast
November 14, 2025Live Webcast
November 17, 2025Live Webcast
November 17, 2025Live Webcast
November 17, 2025Live Webcast
November 17 - 20, 2025Live Webcast
November 17, 2025Live Webcast
November 17, 2025Live Webcast
November 18, 2025Live Webcast
November 19, 2025Live Webcast
November 19, 2025Live Webcast
November 19, 2025Live Webcast
November 19, 2025Live Webcast
November 20, 2025Live Webcast
November 20, 2025Live Webcast
November 21, 2025Live Webcast
November 21, 2025Live Webcast
November 21, 2025Live Webcast
November 24, 2025Live Webcast
November 24, 2025Live Webcast
November 24, 2025Live Webcast
November 24, 2025Live Webcast
November 25, 2025Live Webcast
December 2, 2025Live Webcast
December 2, 2025Live Webcast
December 3, 2025Live Webcast
December 3, 2025Live Webcast
December 3, 2025Live Webcast
December 4, 2025Live Webcast
December 4, 2025Live Webcast
December 5, 2025Live Webcast
December 5, 2025Live Webcast
December 8, 2025Live Webcast
December 8, 2025Live Webcast
December 8 - 11, 2025Live Webcast
December 8, 2025Live Webcast
December 10, 2025Live Webcast
December 10, 2025Live Webcast
December 10, 2025Live Webcast
December 11, 2025Live Webcast
December 11, 2025Live Webcast
December 11, 2025Live Webcast
December 15, 2025Live Webcast
December 15, 2025Live Webcast
December 15, 2025Live Webcast
December 16, 2025Live Webcast
December 17, 2025Live Webcast
December 17, 2025Live Webcast
December 17, 2025Live Webcast
December 17, 2025Live Webcast
December 17, 2025Live Webcast
December 18, 2025Live Webcast
December 18, 2025Live Webcast
December 19, 2025Live Webcast
December 19, 2025Live Webcast
December 22, 2025Live Webcast
December 22, 2025Live Webcast
December 23, 2025Live Webcast
December 30, 2025Live Webcast
December 30, 2025Live Webcast
January 5 - 8, 2026Live Webcast
January 6, 2026Live Webcast
January 7, 2026Live Webcast
January 21, 2026Live Webcast
January 22, 2026Live Webcast
February 4, 2026Live Webcast
March 8, 2026Live Webcast