Gov. Murphy delivers annual budget address. Here’s what to know.

Gov. Phil Murphy's budget is up about 5% over his previous year's proposal.

News 12 Staff

Feb 28, 2024, 10:45 AM

Updated 51 days ago

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Gov. Phil Murphy unveiled a $55.9 billion budget during his annual budget address Tuesday night. It's up about 5% over his previous year's proposal.
News 12 New Jersey's Lauren Due is going over key points with what you need to know, including funding relating to education, transportation and the state pension system.

Fixing NJ Transit

Murphy says dedicated funding will be provided to support NJ Transit at no additional cost to working families.

K-12 education

Murphy says his administration will be the first in the state’s history to fully fund New Jersey’s school funding formula.

Pension system

Murphy also says his administration will meet a major obligation for the fourth year in a row, making a full payment into New Jersey’s pension system.


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