NFIB State Director Laurie Ehlbeck applauds lawmaker’s rejecting higher taxes.
On June 30, Gov. Phil Murphy signed a $38.7 billion state budget. The 2019-2020 budget included increased funding for New Jersey Transit and the state’s pension system but does not include the governor’s proposed millionaire tax.
The final spending plan maintains a total of $1.276 billion in surplus revenues comprised of $875 million in undesignated surplus revenue, and a $401 million deposit into the state’s Surplus Revenue Fund (SRF), the first in more than a decade, according to a press release issued by the governor’s office.
“The leadership in the Senate and Assembly and every member who voted for this budget deserve credit for rejecting higher taxes and fees, for addressing high property taxes, and, very importantly, for working to address the state pension costs that endanger the future of all New Jersey taxpayers,” said NFIB’s New Jersey State Director Laurie Ehlbeck.