TRENTON, N.J. - New Jersey Democratic Gov. Phil Murphy unveiled a $44.8 billion budget proposal, seeking to boost spending by nearly 9% on a host of programs, including the public pension, school aid and a $500 tax rebate to nearly 800,000 families.
Murphy’s proposal includes no new taxes or fees and relatively few spending cuts, mostly in the form of savings from what his administration says are underused programs.
"This is the time for us to lean into the policies that can fix our decades-old – or in some cases centuries-old – inequities," Murphy said. "It is the time for us to also lean into the economic policies that will not just get us through the remaining months of the pandemic, but which will supercharge our reemergence from it and the recovery that awaits on the other side."
He unveiled the spending plan during a remote speech because of the coronavirus pandemic, instead of with the usual pomp and ceremony during a joint legislative session in the General Assembly.
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