State of New Jersey

Republican opponents of New Jersey Gov. Phil Murphy’s proposal to borrow up to $9.9 billion for offsetting COVID-19-related revenue losses argued before the state’s highest court Wednesday the state’s constitution and past legal precedent should prevent the plan from proceeding.

Lottery revenues, used to cover a chunk of the state's pension payment, will fall about $163 million short.

A 16-year-old bond case reemerged to play a central role in Republican efforts to halt Gov. Phil Murphy’s $9.9 billion borrowing plan.

Gov. Phil Murphy reached a deal with Democratic state legislative leaders to pass nearly $10 billion of borrowing to deal with COVID-19 pandemic revenue shortfalls. The deal faces a legal showdown with Republican leaders.

The Garden State defers nearly $2 billion of spending into the new fiscal year, which could force them to make difficult choices in the fall.

New Jersey Transit’s capital funding needs could get a boost from GOs if state lawmakers green light a proposal authorizing in new debt for the state.

Measure seeking billions of general obligation bonds without voter approval cleared General Assembly late last week but faces uncertain fate in the State Senate.

Gov. Phil Murphy’s $5 billion emergency bond plan to patch revenue gaps caused by the COVID-19 pandemic faces an uncertain future in the state legislature.

With postponing expenditures and the rainy-day fund withdrawal, the state still forecasts a yearend surplus.

The Garden State may be facing a more than $10 billion shortfall through the end of next fiscal year, according to Treasurer Elizabeth Maher Muoio.