The first draft of the state’s 3-month budget would make significant cuts to the state’s current spending plan, according to an article by New Jersey Advanced Media’s Samantha Marcus. But are those cuts deep enough given the historic drop in economic activity and the corresponding loss of revenues due to the pandemic?
Marcus writes, “Testifying before the budget committee, Chris Emigholz, vice president of government affairs for the New Jersey Business and Industry Association, warned the decision to defer big expenses rather than make more cuts will make the job of balancing next year’s budget even harder.”
Marcus notes that the spending plan does not include funding for any of the initiatives Murphy proposed earlier this year, such as expanded pre-K, tuition-free four-year college and increased k-12 school aid, that along with other proposals would have added $850 million in costs.
