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How Much Does Murphy’s Budget Plan Rely on One-Shot Revenue Sources?

March 25, 2024 |

Credit: Image by OpenClipart-Vectors from Pixabay

According to new budget estimates obtained through a public-records request, Murphy is planning to use nearly $3 billion in revenue from nonrecurring sources to support his proposal to increase overall state spending to a record-high $55.9 billion during the 2025 fiscal year.

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NJ SEED: In announcing his FY 2021 budget, Gov. Murphy said, “One-shots may help balance the books for one year, but always — always — lead to a mad scramble to close an even bigger hole the next.” Those who are currently juggling the state’s finances say, nothing to worry about here, we’ve got it under control.

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