Gov. Murphy Issues Proposed Budget for FY 2023

 – March 8, 2022
Gov. Murphy Issues Proposed Budget for FY 2023

Governor Murphy issued his proposed budget today for New Jersey’s 2023 fiscal year. The proposed budget totals $48.9 billion, which is up from $46.4 billion last year. Among the most notable elements of the budget are the following:

  • No new taxes or fees
  • An expanded property tax relief program
  • A full payment ($6.8 billion) to the public worker pension fund
  • A $4.2 billion surplus
  • $1.3 billion set aside for debt relief
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