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On Thursday, Governor Murphy and Department of Health Commissioner Persichilli provided a statement on the COVID-19 pandemic noting that the State will not be able to manage our cases to zero as the virus will continue to mutate and case numbers will rise and fall accordingly. They will continue to monitor the COVID-19 cases and trends in the State and the potential impacts on our healthcare system. They advised NJ is ranked among one of the most highly vaccinated states in the country, and our healthcare infrastructure remains strong.
ICYMI: Governor Murphy delivered his Budget Address on Tuesday, March 8th.
The annual Budget Address highlights key funding priorities for the Administration in the upcoming Fiscal Year 2023 budget, which begins on July 1st, 2022. This year's budget marks a 5.3% increase over Fiscal Year 2022, and tax revenues were 10% more than previously expected, supplemented by federal pandemic relief and infrastructure funding. Notably, the Governor's spending proposal will include increased property tax relief for NJ families, the highest level of school funding in State history, the second consecutive full pension payment for the first time in more than a quarter century, and supporting significant investments in affordable housing, higher education, and economic growth with no additional taxes, maintaining a campaign promise from his most recent election.
The $48.93 billion spending plan will set the groundwork for this fiscal year's budget, although many details remain unknown including significant pandemic relief funds that remain uncommitted. More details will be made available throughout the departmental and agency hearings that the Legislature will hold in the coming months as they craft their budget in response. In NJ, the Governor retains the power to line item veto funding in the Legislature's budget and the final bill must be signed into law by June 30th at midnight to avoid a government shutdown.
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