Proposed FY2022 State Budget
On February 23, 2021 Governor Phil Murphy delivered the FY2022 state budget address via a pre-reordered speech, streamed live to the Legislature and the public.
In his speech, the Governor proposed an enormous $44.8 billion budget that included no new or increased taxes or fees for the first time during his tenure in office. This proposal also included a $200 million commitment to the New Jersey Wind Port located in Paulsboro, Gloucester County, $50 million to the Main Street Recovery Program, dedicated to helping small businesses recover from the pandemic, and a sizable charity care contribution for South Jersey hospitals. Additionally, for the first time since 1996 the Governor committed to making a full pension payment, a measure the CCSNJ initially applauded but remains disappointed to learn some of the payment is likely to be made with money borrowed last fall – which the CCSNJ opposed – which will only add to the state’s long-term debt obligation. The Legislature will continue its assessment of the proposed budget over the next several months with a final budget decided no later than June 30, 2021.