(TRENTON) – The $32.7 billion Fiscal Year 2021 State Budget (A-4720) was signed into law today by Governor Phil Murphy.
Assembly Budget Committee Chair Eliana Pintor Marin (D-Essex) and Vice Chair John Burzichelli (D-Gloucester, Cumberland, Salem) sponsor the law. The Assembly members issued the following statements:
Pintor Marin: “The COVID-19 pandemic, which has been crushing to so many New Jersey families, also had a devastating effect on our state’s finances, and resulted in a multi-billion dollar loss in revenue. We knew going in that this would mean making some hard decisions. The document signed today builds on the three-month budget we passed previously by balancing careful reductions with responsible spending and reallocations where they can do the most good.
“I am grateful to my colleagues on the Budget Committee and to all of the residents and advocates who shared thoughts, information, and concerns with us. With their assistance, and in spite of the significant challenges, we crafted a budget, based on our shared values, that protects our most vulnerable, assists the middle class families that are the core of our economy, and puts New Jersey in position to weather whatever comes next.”
Burzichelli: “Not since the Great Depression has our State faced an economic crisis like the one we find ourselves in today. The Legislature always sets out to produce a responsible spending plan that works for hardworking New Jerseyans – I’m proud that we were able to hold true to this goal despite the enormous fiscal challenges brought on by the COVID-19 pandemic.
“This budget utilizes every tool in our arsenal to carry our State through this difficult time, including sensible spending reductions, a commitment to tax fairness and necessary emergency borrowing. I join every New Jersey resident in looking forward to better days ahead.”