TRENTON - New Jersey Gov. Jon Corzine yesterday presented a $29.8 billion fiscal 2010 budget proposal, $3.4 billion smaller than the fiscal 2009 budget, and the toughest spending plan that many legislators said they have ever seen.

Corzine's $29.8 billion budget plan for fiscal 2010, which begins July 1, includes a $7 billion deficit that the Democratic governor proposes closing through tax hikes, decreasing the state's pension contribution, reducing wages and implementing furloughs for state employees, and scaling back on property-tax rebates, among other recommendations. The plan would also utilize $2 billion of federal stimulus funds.

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