Agreement Reached on $60.7 Billion NJ Spending Plan for Next Fiscal Year

June 23, 2026 | njspotlightnews.org

Gov. Mikie Sherrill and the Legislature’s top Democrats say they have a deal on state government’s next annual budget, paving the way for its final adoption in the coming days.

The full details of the agreement were not disclosed in a joint statement issued Tuesday (6/23) afternoon by Sherrill, Senate President Nicholas Scutari (D-Union) and Assembly Speaker Craig Coughlin (D-Middlesex). 

The three leaders, though, said their agreement calls for a $60.7 billion budget to be adopted for the fiscal year that begins July 1.

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NJ SEED: As this is written, it appears that the bill must be passed in order to find out what’s in it. No need to call it a record-breaking budget, as every year the budget exceeds the previous year’s budget – thus breaking the record.