PISCATAWAY, N.J. - New Jersey Gov. Phil Murphy on Tuesday proposed a nearly $40.1 billion budget, which slashes about $1 billion in spending but also calls for higher taxes on millionaires and $4 billion in new debt to close gaps stemming from COVID-19.
Standing on a podium at midfield at Rutgers’ SHI Stadium in Piscataway to make social distancing easier than inside the confines of the statehouse, Murphy unveiled his second fiscal 2021 budget of the year.The earlier nearly $41 billion plan was scrapped because of the viral outbreak, which has killed more than 14,000 people in the state and resulted in about 190,000 positive cases.