Gov. Murphy discusses his new $41 billion state budget with News 12 NJ
Gov. Phil Murphy unveiled his $41 billion state budget for the 2021 fiscal year.
Proposed boosting overall spending by more than 5% compared with the plan he put forward last year and once again raising marginal income tax rates on the wealthy. It calls for higher spending on education, transit and public pensions and would set aside $1.6 billion in surplus, up from $1.2 billion in the current year.
Murphy made a point to stress that school funding is property tax relief.
The governor sat with News 12’s Eric Landskroner Tuesday after the address to discuss the budget further.
Watch: Gov. Phil Murphy's full state budget address: