From the Governor's Office:

NJ SEED
May 26
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Governor Sherrill and Treasurer Binder Announce April Revenue Increase, Reduced Structural Deficit & Increased Surplus in Proposed FY 2027 State Budget

May 19, 2026 | nj.gov

Governor Mikie Sherrill and State Treasurer Aaron Binder today announced increased April revenues, along with actions to further reduce the State’s structural deficit and increase its projected surplus amid ongoing national and global economic uncertainty.

In testimony before the Senate Budget Committee today (5/19), Treasurer Binder announced April revenue collections exceeded FY 2026 targets. Combined with an additional $50 million in spending cuts in the Governor’s proposed budget, this reduced the structural deficit to below $1.5 billion and boosted the surplus to nearly $6 billion.

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