From the Governor's Office:

Statement from Governor Sherrill, Senate President Scutari, and Assembly Speaker Coughlin on FY 2027 Budget

June 23, 2026 | nj.gov

“We are pleased to have worked closely together to reach an agreement on an FY 2027 budget that makes New Jersey more affordable and protects our state from the Trump Administration's dangerous policies that harm residents. 

“The $60.7 billion budget provides tax relief to New Jerseyans who need it most while investing in our shared future with an expanded Child Tax Credit benefit for families. It offers the most property tax relief in the state's history, ensuring StayNJ is a sustainable benefit retirees can count on. 

“At the same time, this budget cuts the state's structural deficit in half, continues to fully fund pensions, and increases the budget surplus we need to fight the Trump Administration's unprecedented attacks on Medicaid, food assistance, affordable health care, and jobs – all of which are increasing costs for New Jerseyans. 

“We are proud that this budget agreement will help families across New Jersey and look forward to its passing in the coming days.”