New Jersey Budget Analysis, Take Two
September 9, 2020
On Aug. 25, Governor Phil Murphy issued his proposed budget for New Jersey’s abbreviated 2021 fiscal year, covering Oct. 1, 2020, through June 30, 2021. Among other things, the budget includes: $4 billion in borrowing; $1.25 billion in cuts and savings; and $1 billion in tax increases, including an expansion of the top individual tax rate to those earning more than $1 million and restoration of the 2.5-percent CBT surtax. Listen as Richard Keevey and Dale Florio — who helped us analyze the Governor’s original budget proposal back in March just as the pandemic was ramping up — take an in-depth look at the budget and its political prospects.