State revenues were down $3.5 billion in April, almost 60% less than a year earlier. Some might be delayed, not lost, as the tax deadline shifted to July.
The $40.9B spending plan for fiscal 2021 includes $132 million more for NJ Transit and $50 million to expand tuition-free college to four-year schools.
Senate President Steve Sweeney has a three-part plan to dedicate a half-billion annually to NJ Transit. It includes $300 million from a 1% corporate tax hike.