New Jersey

Proponents say it's the right time after states reaped the revenue rewards of a strong post-COVID economic rebound. Opponents, however, point to the gloomy market predicted to be ahead.

The $54.3 billion spending plan for fiscal 2024 is $5.4 billion larger than last year's and $1.2 billion more than the proposal Gov. Phil Murphy pitched in February. It features tax-relief programs and tax code changes.

The construction manager of the beleaguered mall/entertainment complex in New Jersey says it is owed more than $30 million for unpaid work and accrued interest.

The bill includes provisions to reduce the state's CBT rate and shield some overseas profits from local taxes.

A bond-financed assisted living complex for low-income senior residents in southern New Jersey has been struggling to make timely monthly loan payments.

The state-supported deal with Ørsted for a $1.6 billion wind farm off of Atlantic City's Coast is awaiting federal Record of Decision this summer.

Fiscal '24's capital financing program leans on a mix of state and federal debt and over $900 million in bonds.

Continued commitments to meeting long-term liabilities under Gov. Phil Murphy were cited as key in a slew of recent bond rating upgrades for the Garden State.

"The latest upgrade is further recognition of the work we have put into responsible budgeting," said Treasurer Elizabeth Maher Muoio.

The New York Fed said the tech sector's employment contraction impact on the New York City economy was unlikely to be significant.

S&P, Fitch and Moody's have all raised their ratings on the Garden State's general obligation bonds within the last week.

Fitch Ratings raised New Jersey's issuer and general obligation bond ratings just days after Moody's Investors Service upgraded its ratings on the Garden State ahead of next week's s $1.1 billion bond sale by the state Economic Development Authority.

New Jersey received a Moody's Investors Service upgrade to A1, citing the state's approach to pension funding and debt defeasement.

Gov. Phil Murphy wants to let a COVID-era corporate tax surcharge expire. Liberals want to make it permanent; conservatives want to cut it even more.

Republican opponents of the Democratic governor's offshore wind initiatives are using recent dolphin deaths as leverage to push back against the plan.

The MTA, which expected to begin collecting the tax next year, has revised downward its 2024 projections as federal review is taking longer than expected.

Gov. Phil Murphy announced funding for programs to address short-term liquidity issues and keep investments flowing in the wake of the bank's collapse.

A project to retrofit the Port of Camden in New Jersey for larger cargo vessels is getting a boost of federal support.

East Rutherford is suing the project's developer, saying it has missed millions of scheduled payments in lieu of taxes. American Dream's owners disagree.

Gov. Phil Murphy's proposal doesn't include new major programs or initiatives but addresses long-term liabilities and reserves ahead of a potential recession.