top of page

Budget Talks Go Private As Concerns Increase

Updated: Jul 4

May 24, 2023 |

Photo Credit: New Jersey Senate Democrats

The latest round of legislative budget hearings concluded Tuesday (5/23) with more talk of a tightening state revenue outlook that could make it much harder for lawmakers to draft the typical election-year spending bill.

How it all plays out between Gov. Phil Murphy and fellow Democrats who control the Legislature in the run-up to the July 1 start of the next fiscal year remains to be seen.

Read More: Click Here

NJ SEED: In years where there is a substantial budget surplus (even in years when there isn’t) these last few weeks before July 1st, when a balanced budget must be adopted, are busy ones. This is the time when legislators seek to fund pet projects by adding them to the budget. Traditionally known as Christmas Tree items, these funds substantially go to legislators of the majority party – especially in a legislative election year. With lowered revenue projections, should we anticipate restraint this year?

3 views0 comments
bottom of page