On Feb. 25, Governor Murphy presented a $40.9 billion proposed budget for New Jersey’s 2021 fiscal year. It calls for:
- An expansion of the top individual tax rate to those earning more than $1 million,
- A 12.8-percent higher contribution to the public worker pension fund,
- A $566 million reduction in expenses,
- An increase in the cigarette tax, and
- Other spending and savings measures.
Learn more about the budget proposal: