NJ Spotlight News
Legislature passes historic $54.3B budget
Clip: 6/30/2023 | 5m 8sVideo has Closed Captions
Midnight Friday is the deadline for passage of a balanced budget
Voting mostly along party lines, New Jersey lawmakers approved a $54.3B spending plan Friday ahead of a midnight deadline to pass a balanced budget. It's a budget crafted by Democrats, who are in the majority. Gov. Phil Murphy has said he will sign the document, which spends $1.2 billion more than he requested in his February budget proposal.
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NJ Spotlight News is a local public television program presented by THIRTEEN PBS
NJ Spotlight News
Legislature passes historic $54.3B budget
Clip: 6/30/2023 | 5m 8sVideo has Closed Captions
Voting mostly along party lines, New Jersey lawmakers approved a $54.3B spending plan Friday ahead of a midnight deadline to pass a balanced budget. It's a budget crafted by Democrats, who are in the majority. Gov. Phil Murphy has said he will sign the document, which spends $1.2 billion more than he requested in his February budget proposal.
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Learn Moreabout PBS online sponsorshipthe deadline is looming to get the state's budget passed and signed by midnight tonight to prevent a state government shutdown Governor Murphy says he will sign that budget deal tonight with just hours to go before the start of the new fiscal year but the weeks leading up to today have been marked by last minute dramas and frustrations as lawmakers rushed to make a deal on a new property tax relief plan for seniors and had little time to review a record high spending bill of more than 54 billion dollars before voting on it the plan has ballooned by more than a billion dollars added to the spending plan Governor Murphy proposed in February including millions in last minute add-ons senior correspondent Brenda Flanagan is at the state house where the legislature has been voting all day as a rush to the end of the session Brenda Raven It's budget day here at the state house and it's a little messy New Jersey's got to pass a balanced budget by midnight tonight that's the deadline and lawmakers are debating a 54.3 billion dollar spending plan it's the Democrats budget they're in the majority and so it's expected to pass but this document is a last-minute seat of the pants production ladies and gentlemen this is a complete and utter failure of our government process it's disgusting Republicans fumed over the Russian fumble process that produced imperfect documents and berated the Democrats budget brinksmanship it left lawmakers very little time to absorb the majority's complex spending plan hastily written up by the nonpartisan office of legislative Services it yielded paperwork riddled with technical mistakes like missing line items OLS shows 58 changes to the budget and 14 of them were not represented on the scoresheets provided to us in the budget when it was introduced we're looking at up to almost 60 changes that occurred between the time the budget committee adjourned and we meet today which means rest assured this body has not reviewed them Democrats argued it's a by the book budget even if it did get messy the deliberative process like in years past during which I've served on the budget committee was imperfect in terms of the late stages but followed all of the rules set forth by our house by our constitution the assembly committee budget members has worked hard to review every dollar spent and ensure the Investments made in this budget represent the priorities of all New Jersey residents the spending plan for fiscal year 2024 totals 54.3 billion dollars that's 1.2 billion more than Governor Murphy requested in his budget message it doesn't raise taxes makes a full payment into State Pension funds and increases Aid to education the new budget doubles the earned income credit to a thousand dollars for each eligible child and it also promises more property tax relief the anchor program's next round of rebates gets a 250 dollar boost for homeowners and renters age 65 and over if you vote against this budget in this budget has an additional 250 dollars for every senior that is boosted through the anchor program so think about that when you cast your vote with revenues Dropping precipitously It is incomprehensible to actually increase spending at the same time coupled with a surplus that is expected to evaporate in a few short years it's a fiscal Time Bomb for the future the assembly passed the budget mostly along party lines the declare the bill pass order earn the chamber please today's package of bills also includes the Democrats brand new property tax relief Plan called stay NJ that promises to slash up to sixty five hundred dollars off tax bills for seniors who earn half a million dollars or less there's money for renters too it's a compromise brokered with Governor Murphy we'll cut property taxes in half for the overwhelming majority of seniors but it doesn't kick in till 2026 Republicans called foul and complained the money just isn't there the fact of the matter is this bill is probably never going to actually pay out the money that it's reported to do and even if it does it'll be a one-time shot despite Republican criticism the assembly approved St J almost unanimously the politics is a whole other issue you know it's it's an election year and that has not you know I think everybody understands why they're pushing this really quickly during this session the budget passed the Senate 25 to 12. some measures got rerouted in a legislative Ledger domain to fix issues like missing language or math that doesn't add up after the rush to deadline the governor says he'll sign it in a ceremony at the State House rotunda at the State House in Trenton I'm Brenda Flanagan NJ Spotlight News
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