It's official: NJ borrows $4.3 billion to balance its 2021 budget
After interest-only payments are made in 2021 and 2022, yearly payments are expected to be slightly more than $500 million for the 10 years that follow.
Elizabeth Maher Muoio
Gas-tax math: NJ presumes traffic down over 12% through mid-2021
The gas tax formula depends in part on projected consumption. Murphy administration says traffic volume won't improve much through next June.
Treasury doesn't share Legislature's optimism on NJ tax revenues
The Office of Legislative Services forecasts a drop in revenues but projects it to be $1.37 billion higher than the Murphy administration does.
N.J. gas tax to increase more than 9 cents a gallon in October
State gas taxes in New Jersey will rise to 50.7 cents per gallon. Gas consumption is down in the COVID-19 recession, triggering a hike under a state formula.
Assembly panel endorses up to $14 billion in COVID borrowing
New Jersey could borrow as much as $14 billion to help replenish its budget and those of some counties and municipalities hit hard by the coronavirus pandemic.
As commuters work from home, NJ income tax coffers may benefit
New Jersey commuters who used to cross a river into New York or Philadelphia but have been working from home could yield an unexpected windfall for the state.
NJ details how next year's school aid will shrink by $335 million
Districts that are losing aid will lose just as much as expected. Those that are gaining aid will receive, on average, two-thirds less than promised.
Legislature's analysts issue slightly less dire revenue outlook
Murphy administration's $10B forecast for a drop in revenues is plausible, though in short term OLS expects gap to be almost $500M smaller.
Murphy cuts or delays $5B in spending — no tax hikes, yet
The state withdraws $850 million in planned spending increases, including $386 million in school aid and $132 million for NJ Transit.
NJ one of two states worst positioned to cope if recession hits
New Jersey and Illinois are the two states whose budgets are in the weakest position should a recession materialize, according to Moody's Investors Service.