Phil Murphy state New Jersey virus covid-19 Phil Murphy state New Jersey

New Jersey freezes nearly $1B in state spending due to COVID-19

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Attorney General of NJ puts out enforcements for NJ stay-at-home order for COVID-19 TRENTON, N.J. - New Jersey is preparing for a huge drop in tax revenue from the hit to the economy from the novel coronavirus, and Gov.

Phil Murphy is putting nearly $1 billion in reserve to get ready, the state treasurer announced. Treasurer Elizabeth Muoio said in a statement issued late Monday night that $900 billion in appropriations are being placed into reserve. FULL COVERAGE: CORONAVIRUS “The State expects precipitous declines in revenues in Fiscal Year 2020 and Fiscal Year 2021,” she said. RELATED COVERAGE: Murphy vows action to enforce New Jersey stay-at-home order Advertisement Murphy issues stay-at-home order for New Jersey, bans gatherings Intera

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