Gov. Murphy signs final New Jersey budget with record spending

To help pay for it, taxes are going up — though the plan also includes property tax relief.

News 12 Staff

Jul 1, 2025, 11:13 AM

Updated 5 hr ago

Share:

Gov. Phil Murphy has signed his final state budget into law, with New Jersey set to spend a record $60 billion.
To help pay for it, taxes are going up — though the plan also includes property tax relief.
Republicans criticized Democrats for adding hundreds of millions in spending at the last minute. Senate Minority Leader Anthony Bucco said, "Their rushed, opaque budget charade is exactly why New Jersey is in the fiscal mess we've found ourselves in."
"This budget is a fiscally responsible plan that upholds the core priorities of New Jersey's working families as we confront challenging economic and fiscal conditions," said Senate Democratic Leader Nick Scutari.