In our spotlight on Business report tonight.

Lawmakers have just a few days left to finalize a budget deal.

And it comes to no surprise to any of us here in New Jersey that there's not even been a bill presented yet.

Although late yesterday, Senate Budget Committee Chair Paul Sarlo did announce that a formal spending plan may be released tomorrow and a possible vote scheduled in both Houses on Friday.

So lots to pick apart here, both from what's inside the budget package to this process that's brought no shortage of criticism from both Republicans, as well as many progressive groups all calling for more transparency.

Who better to break it all down than our very own budget And finance writer John Reitmeyer who's with me now.

John, good to see you.

What can you tell us?

Do you know any details that are possibly in this deal that we know right now?

Legislative leaders on the Democratic side are working out with Governor Murphy right now.

It's good to be here with you.

We do see a few breadcrumbs and some little details that have been leaking out in the last few days.

And one of them is a big one.

If you're looking at how this budget's going to come together.

The governor had been proposing to hike taxes on New Jersey's most profitable businesses.

That's a proposal that's been around since late February.

That's the corporate transit fee.

Correct.

And it looks like that tax is going to make it into the final deal, at least what some sources have been telling me.

And, you know, that's a big piece of the puzzle that would have to come together for us to get a spending bill and for us to get to that finish line.

You know, July one, we need a new budget in place where there's a state government shutdown in New Jersey.

Yeah, we're going to get into the timing of all of this as you follow it daily.

But a couple of things.

We've been watching the $20 million for county colleges.

They have been pushing really hard for this.

It's actually been a point that we've seen both Republicans and some Democrats saying they need to reverse course on any word they're.

It looks like, you know, lawmakers throughout the budget season, you know, the last few months, that's emerged as a key priority for them.

So, you know, I wouldn't be surprised to see that make the final cut.

You know, last year, they pushed to get more funding.

Traditionally, the governor takes back some of the funding that lawmakers add on this time of the year.

So, you know, we have to see the final budget.

But that's an area, as you note, that lawmakers from both parties have identified as a priority.

So I would not be surprised to see some of that funding restored when we get this final spending bill.

There are some other taxes that have been floated, some possible increases and possible decreases.

I'm going to just laundry list a few of them.

Tell us what you know.

We've got this potential increase in this sales tax that we heard about.

This was a costly an idea that maybe at one point he was considering and then at another point he said it's off the table.

Then we've got anchor and this back to school tax break that's going away.

Explain.

Yeah, well, we're still waiting on the final numbers.

It sounds like the flirtation with a sales tax hike is going to be left at just that.

I don't think that that's going to make it, although, again, we still have to see this this final bill, the back to school sales tax holidays, another one that we're keeping an eye on.

I think a lot of parents took advantage of that in recent years, fighting high inflation that was due to go away under the governor's budget.

So we'll see if lawmakers go along with that as well.

You know, anchor the benefits for anchor were on course to stay flat.

So we know that property taxes increased year over year last year.

So if the benefits stay flat and you're paying more in property taxes, that's in essence a tax hike not directly delivered to you from Trenton, but in effect, you do end up paying more.

So that's another one.

Well, we're just going to have to wait and see.

Let's talk about the timing of this.

We see Sarlo saying this could come out on Wednesday, possibly even Thursday, a vote Friday, possibly Saturday.

We know that groups like for the money and we the People are out there today calling for the 72 hour period minimum between the time that a budget is presented and voted on.

That doesn't seem likely, does it?

Not based on the timeline that's been laid out so far.

Or we would generally have to have the budget introduced.

Like right now.

And I don't expect that.

And if you look at it from their perspective, this is money that we pay New Jersey residents and income taxes.

Sales taxes are employers pay business taxes.

So they want to have a look at how lawmakers are divvying up all appropriating all the money that we as taxpayers contribute.

It's also worth noting that in more than 30 states, they already have their budgets enacted and we're still waiting on a spending bill.

So that says something about the way New Jersey conducts its business.

Yeah, it doesn't look good for us, does it?

Do you think that this goes into the weekend that lawmakers are convening on Saturday to vote?

I wouldn't be surprised the way that it's playing out.

There's a lot that has to happen even behind the scenes when there is an agreement.

There's a lot of you know, the budget spans hundreds of pages and they all have to be written by staff.

So I would not be surprised, unfortunately, if this does drag out into the weekend.

But we'll see.

We will see.

John Reitmeyer.

Thank you, as always.

You're welcome.

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