The legislative Joint Budget Oversight Committee (JBOC) met on Tuesday to consider funding to support various organizations and programs in New Jersey under the Federal Coronavirus State Fiscal Recovery Fund and the New Jersey Debt Defeasance and Prevention Fund.
Upon conclusion of the committee meeting, Assembly Democrat committee members John Burzichelli (D-Gloucester, Cumberland, Salem) and Eliana Pintor Marin (D-Essex) issued the following joint statement:
“Today’s Joint Budget Oversight Committee meeting continues to build on the important investments made in the FY 2022 budget with the approval of almost $700 million in funding to make critical investments in public health, the environment, and economic development. The JBOC process ensures that every dollar received by New Jersey under the federal American Rescue Plan Act (ARP) is given proper scrutiny and review. In addition to the ARP funding, the allocations approved today include $435 million from the Debt Defeasance and Prevention fund, funding that was made available as a result of responsible budgeting and dedicated to reduce the State’s reliance on debt.”