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On Monday, the Governor, along with several U.S Department of Education leaders announced new efforts to improve accessibility to student loan forgiveness for public employees. Last October, the U.S. Department of Education (Department) announced a limited PSLF waiver opportunity, which temporarily waives certain program rules to better deliver on the PSLF promise to public service employees with federal student loans.
This week in the Legislature, GOP leaders in the Assembly announced a four-point plan which they claim would provide residents immediate relief in this year's state budget and achieve sustainable tax reforms in an effort to combat rising inflation. The package of proposals also includes rebates to combat inflation, fully returning energy tax receipts to towns over two years to lower property taxes, and restoring school funding cuts under S2, the state law passed in 2018 that cut so-called "adjustment aid" to nearly 200 districts across the state.
On Tuesday, the Assembly Health Committee Panel advanced a prescription drug affordability package, sponsored by Assemblyman John Mckeon; the bill is now headed to the Senate for further consideration. The legislative package encompasses bills intended to place a flat cap on out-of-pocket payments for individuals prescribed certain medicine, greatly improve transparency in the prescription drug supply chain, license and regulate PBMs, and establish a "Prescription Drug Affordability Board".
Governor Phil Murphy announced during Wednesday’s press conference that he would be renewing support for a package of gun safety legislation. He proposed a call to action alongside community members and leaders with the intent of renewing the comprehensive gun safety 3.0 package. The legislation is intended to maintain and also enhance NJ’s already existing firearm laws and hold the gun industry liable through measures such as raising the minimum age to buy firearms to 21, mandating the registration and safe storage of firearms, banning the sale of .50 caliber firearms and requiring firearm safety training. Read More Here.
Additionally, on Wednesday, the Murphy administration announced the State filed an action in Superior Court seeking a court order to appoint a receiver at Woodland Behavioral and Nursing Center at Andover. Such an action is meant to assume the next appropriate steps to ensure the health and safety of residents in this nursing home.
As mentioned last week, NJ's nonpartisan Office of Legislative Services told lawmakers that the State is projected to accrue approximately $51 billion in tax revenue, resulting in an $8 billion surplus in fiscal revenue. The anticipated surplus has engendered varied dialogue on how the influx should be spent with some calling for tax relief, while others calling for the state to pay down its debts. Nevertheless, the State has 5 weeks to determine how the $8 billion will be spent and which efforts it will be allocated towards.
This week served as a significant week for the Legislature as voting on various legislation took place in both the Assembly and Senate on Thursday. Negotiations for Murphy's proposed budget have continued throughout the week as The Legislature must pass an Appropriations Act by June 30th for the new fiscal year that commences on July 1st. While budget negotiations are ongoing, the Legislature will continue with standing committee meetings following the Memorial Day holiday.
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