Public Hearings on Murphy’s Record Budget Plan Set to Start

March 12, 2025 | njspotlightnews.org

State lawmakers are launching their formal review of Gov. Phil Murphy’s record-high, $58 billion proposed budget next week with a public hearing in Trenton.

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NJ SEED: The annual lengthy budget crafting process begins. A balanced budget must be presented to the governor by June 30. In order to meet Gov. Murphy’s proposed $58 billion spending plan the legislature will need to enact a series of tax and fee increases. If the legislature follows long-standing tradition millions of dollars in additional spending will be added as “Christmas Tree” items. Last year those add-ons totaled about $600 million.