Elizabeth Maher Muoio

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.

Income tax collections surged to a record in April, as shortfalls in December and January proved to be merely delays, not a disappearance.

A few solid months of gas tax collections have eased concerns another increase might be triggered to reach revenue targets written into state law.

The Senate president says big savings would result if the state's health plans for teachers and other public workers merge. The governor doubts his numbers.

The state is counting on a robust but not unprecedented $3 billion in income taxes this month, exceeding what the tax generated in a whole year before 1991.

Gasoline sales continue to decline in New Jersey, raising the possibility of another gas-tax hike this fall. The Murphy administration thinks it can be avoided.

New Jersey's gas tax will increase 4.3 cents a gallon on Oct. 1, the state Treasury Department announced. At 41.4 cents, it will be sixth highest in the nation.

The nearly $300 million Statehouse restoration that began last year is proceeding according to plan though is now scheduled to be completed in 2022.

The 2016 hike in the gas tax was structured in a way that the rate goes up as collections drop. A hike of 2 to 4 cents a gallon could be coming.

Acting state Treasurer Elizabeth Maher Muoio says 83% of proposed new spending goes toward pensions, health benefits, debt and Medicaid.