The Assembly Budget Committee held a remote hearing today to receive testimony from the State Treasurer and the non-partisan Office of Legislative Services on the financial condition of the current and upcoming fiscal year budgets. Speaker Pro Tempore Gordon Johnson (D-Bergen), a member of the committee, released the following statement:
“I want to thank State Treasurer Elizabeth Muoio and the Office of Legislative Services for addressing the committee today and answering our questions regarding the state’s financial situation.
“After hearing and learning more about our fiscal reality, it is clear that the COVID-19 pandemic has drastically affected our state’s finances and any plans or ideas we may have had for the budget prior to the virus’ arrival in New Jersey.
“Our committee, and the Assembly as a whole, is committed to doing what we can on behalf of the people of New Jersey, especially our working class families and those hit hardest by this crisis.
“We will continue to gauge both the public health and economic toll of this pandemic as we gather more information and hear from experts and residents in order to create a fair and balanced budget for our state.”