State of New Jersey

New Jersey's $32.7 billion budget for its shortened nine-month fiscal 2021 includes the state's largest reserve levels in more than a decade as a backstop for revenue hits that may result from a possible second wave of coronavirus.

Analysts warn that borrowing planned in a revised New Jersey budget will result in lasting fiscal distress as it pays back the debt.

The deal struck by Gov. Phil Murphy to increase marginal rates on income over $1 million is not expected to make a material difference to the state deficit.

A proposed financial transaction tax in aimed at bolstering tax revenues could cost the state Wall Street business, analysts warn.

Former New Jersey Department of Treasury senior staffer Bobby Rand explains why he thinks Gov. Phil Murphy’s $4 billion borrowing proposal to offset lost revenues caused by the COVID-19 pandemic will exacerbate the state’s fiscal woes.  Andrew Coen hosts. (29 minutes). 

Gov. Phil Murphy’s administration faces a fast-approaching deadline to choose its debt strategy: long-term GO bonds or the Fed's Municipal Liquidity Facility.

A new state revenue forecast could put a crimp in the governor's $4 billion emergency funding bond plan.

A drop in fuel consumption prompted New Jersey to raise its gas tax, above the levels of New York, whose residents took advantage of lower prices and filled up before exiting the state when driving through.

New Jersey Gov. Phil Murphy pitched a revised $32.4 billion nine-month 2021 fiscal year budget that hinges on billions of borrowing and newly enacted taxes to confront a coronavirus-induced revenue gap.

The state's highest court unanimously ruled that a law Gov. Phil Murphy spearheaded to authorize up to $9.9 billion of bonds is constitutional.