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 1,366 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
0:16
Police: Elizabeth man charged with sexually assaulting 2 children

Police: Elizabeth man charged with sexually assaulting 2 children

2:13
Sunshine, some clouds and breezy conditions in New Jersey

Sunshine, some clouds and breezy conditions in New Jersey

2:39
Police: 3 people in van on way to adult day care center killed in crash in South Brunswick

Police: 3 people in van on way to adult day care center killed in crash in South Brunswick

Police: Truck driver, toll booth attendant seriously injured in crash at Barnegat Toll Plaza

Police: Truck driver, toll booth attendant seriously injured in crash at Barnegat Toll Plaza

0:51
IRS warns public about potential tax scams as Tax Day deadline approaches

IRS warns public about potential tax scams as Tax Day deadline approaches

2:27
Congress investigates rise in antisemitism at Rutgers, including incident involving student 2 weeks ago

Congress investigates rise in antisemitism at Rutgers, including incident involving student 2 weeks ago

0:22
Elizabeth man sentenced to 25 years in prison for road rage rampage

Elizabeth man sentenced to 25 years in prison for road rage rampage

0:56
Jersey Proud: Miracle League of Mercer County to hold first game of season

Jersey Proud: Miracle League of Mercer County to hold first game of season

0:18
Prosecutor: 4th person charged in New Brunswick shooting that injured 2 Rutgers students

Prosecutor: 4th person charged in New Brunswick shooting that injured 2 Rutgers students

0:20
Newark officials postpone plans for overnight curfew for minors

Newark officials postpone plans for overnight curfew for minors

1:52
New York Red Bulls to hold annual Autism Acceptance match for families with autism

New York Red Bulls to hold annual Autism Acceptance match for families with autism

1:59
Fire destroys iconic restaurant DP’s Pub and Seafood Grill in Garfield

Fire destroys iconic restaurant DP’s Pub and Seafood Grill in Garfield

0:29
Officials: More than 70 lab mice at Seton Hall euthanized due to neglect

Officials: More than 70 lab mice at Seton Hall euthanized due to neglect

1:52
It's been 1 week since a 4.8 earthquake rocked New Jersey. Here's what to know about quakes in the state.

It's been 1 week since a 4.8 earthquake rocked New Jersey. Here's what to know about quakes in the state.

0:17
Authorities: Dead humpback whale that washed up on Long Beach Island had head and neck injuries

Authorities: Dead humpback whale that washed up on Long Beach Island had head and neck injuries

0:23
Police: 43-year-old man killed in crash on Route 80 in Fairfield

Police: 43-year-old man killed in crash on Route 80 in Fairfield

0:20
Authorities: 7 people displaced by fire at multifamily home in Jersey City

Authorities: 7 people displaced by fire at multifamily home in Jersey City

0:30
Police: 2 teens arrested for breaking into Montclair home and stealing car

Police: 2 teens arrested for breaking into Montclair home and stealing car

0:18
Police: Multiple bear sightings reported in Park Ridge

Police: Multiple bear sightings reported in Park Ridge

0:21
Police: 2 suspects wanted for armed robbery in Bayonne

Police: 2 suspects wanted for armed robbery in Bayonne