State lawmakers pass bill authorizing $10B in borrowing to plug budget gap

The New Jersey Legislature has passed legislation authorizing Gov. Phil Murphy to borrow nearly $10 billion to plug budget holes he says stem from the coronavirus outbreak.

News 12 Staff

Jul 16, 2020, 8:31 PM

Updated 1,388 days ago

Share:

The New Jersey Legislature has passed legislation authorizing Gov. Phil Murphy to borrow nearly $10 billion to plug budget holes he says stem from the coronavirus outbreak.
The measure passed the Assembly Thursday after about two hours of debate. The bill passed earlier in the day in the Senate and now goes to the governor for approval.
Murphy has said he will sign the measure. He says the borrowing is needed to support public workers, first responders, education aid and other services. But exactly how the money would be spent is yet to be determined.
Some Republican lawmakers were opposed to the plan, saying that $10 billion is too much to borrow and could lead to the raising of taxes.
The Associated Press wire services contributed to this report.


More from News 12
1:11
Injury at Morristown NJ Transit station leads to train service delays

Injury at Morristown NJ Transit station leads to train service delays

2:30
Rain throughout Sunday for New Jersey

Rain throughout Sunday for New Jersey

1:50
Curfew enforcement for kids under 17 now in effect in Newark

Curfew enforcement for kids under 17 now in effect in Newark

1:06
Overnight fire destroys home in Lakewood

Overnight fire destroys home in Lakewood

1:46
Officials: Man killed in house explosion in South River identified as retired Newark officer

Officials: Man killed in house explosion in South River identified as retired Newark officer

0:42
NJ lawmakers criticize how Rutgers officials negotiated with pro-Palestinian protesters

NJ lawmakers criticize how Rutgers officials negotiated with pro-Palestinian protesters

0:28
Special election to be held to fill late Rep. Donald Payne’s seat in Congress

Special election to be held to fill late Rep. Donald Payne’s seat in Congress

0:42
Jersey Proud: Army ROTC students from Rutgers, Seton Hall and Princeton train together

Jersey Proud: Army ROTC students from Rutgers, Seton Hall and Princeton train together

1:32
Knowing the early warning signs during Stroke Awareness Month

Knowing the early warning signs during Stroke Awareness Month

0:27
Prosecutor: 2 people seriously injured in 3-car crash; driver charged with drunk driving

Prosecutor: 2 people seriously injured in 3-car crash; driver charged with drunk driving

0:30
Police: New York man pointed knife at pro-Palestinian protester in Teaneck

Police: New York man pointed knife at pro-Palestinian protester in Teaneck

0:27
Officials: Paterson man threatened to ‘shoot up’ JFK Int’l Airport

Officials: Paterson man threatened to ‘shoot up’ JFK Int’l Airport

2:02
Authorities: Major fire displaces 20 people from 9 families in Elizabeth

Authorities: Major fire displaces 20 people from 9 families in Elizabeth

1:04
Hillsborough school officials vote to end middle school sports, make staff cuts amid budget cuts

Hillsborough school officials vote to end middle school sports, make staff cuts amid budget cuts

0:49
Bridgewater-Raritan School District waives fees to participate in clubs, sports

Bridgewater-Raritan School District waives fees to participate in clubs, sports

0:39
Officials: 3 pedestrians, including 2 children, struck by NYC-based news van in Elizabeth

Officials: 3 pedestrians, including 2 children, struck by NYC-based news van in Elizabeth

0:28
GoFundMe started for 6-month-old boy and his grandfather killed by fallen tree in Verona

GoFundMe started for 6-month-old boy and his grandfather killed by fallen tree in Verona

0:40
Main Street New Jersey: Restaurants, businesses to visit in Edgewater

Main Street New Jersey: Restaurants, businesses to visit in Edgewater

3:21
Bridge over section of I-95 in process of being demolished due to damage from truck fire

Bridge over section of I-95 in process of being demolished due to damage from truck fire

1:26
Look up! Annual Eta Aquarid meteor shower peaks early Sunday morning

Look up! Annual Eta Aquarid meteor shower peaks early Sunday morning