Lawmakers get back to work on state budget in Trenton

State Treasurer Elizabeth Muoio said she is expecting the state will take in less money from income tax collections this spring.

News 12 Staff

Apr 3, 2023, 11:20 PM

Updated 478 days ago

Share:

Lawmakers in the New Jersey Assembly got back to work Monday on the state budget.
State Treasurer Elizabeth Muoio said she is expecting the state will take in less money from income tax collections this spring.
“Jobs growth, wage and salary increases and consumer spending have continued, but there are economic uncertainties looming in the coming months as higher U.S. interest rates continue to affect the housing market, consumer behavior and the banking industry,” she said.
Gov. Phil Murphy's budget proposal includes a doubling of the state's child tax credit from $500 to $1,000 and a second year of anchor property tax rebates.
The Legislature needs to approve a budget by July 1.


More from News 12