NJ debt surges 22%, approaching $27,000 for each resident
Annual debt report finds New Jersey's long-term debts and obligations, including pensions and health benefits, reached $248.6 billion as of mid-2021.
Elizabeth Maher Muoio
Forgot to claim tax credits? Not too late for NJ residents to fix
Through amended or late tax forms, residents can still claim their federal child tax credits or state and federal earned income tax credits.
NJ pension dilemma: Spend billions or wait decades for increases
Cost-of-living adjustments were suspended in 2011 and won't return for many years, even with full contributions. But restoring them now costs $3.6 billion.
Murphy: Expand NJ property tax rebates to 1.3 million more homes
Gov. Phil Murphy proposes property tax rebates starting at $700 and growing to $1,150, including homes with incomes of up to $250,000. Renters get help, too.
NJ finances get another positive outlook, though not an upgrade
Another credit rating agency has improved its outlook for New Jersey’s finances, ahead of next month’s introduction of the next proposed state budget.
Turns out borrowing $4.3B ‘not essential’ to balance NJ budget
The state's emergency COVID borrowing cannot be repaid early, but Treasury Department says it makes more sense to repay other debt with higher interest rates.
It’s official: NJ borrows $4.3 billion to balance its 2021 budget
After interest-only payments are made in 2021 and 2022, yearly payments are expected to be slightly more than $500 million for the 10 years that follow.
Gas-tax math: NJ presumes traffic down over 12% through mid-2021
The gas tax formula depends in part on projected consumption. Murphy administration says traffic volume won't improve much through next June.
Treasury doesn’t share Legislature’s optimism on NJ tax revenues
The Office of Legislative Services forecasts a drop in revenues but projects it to be $1.37 billion higher than the Murphy administration does.
N.J. gas tax to increase more than 9 cents a gallon in October
State gas taxes in New Jersey will rise to 50.7 cents per gallon. Gas consumption is down in the COVID-19 recession, triggering a hike under a state formula.
Assembly panel endorses up to $14 billion in COVID borrowing
New Jersey could borrow as much as $14 billion to help replenish its budget and those of some counties and municipalities hit hard by the coronavirus pandemic.
As commuters work from home, NJ income tax coffers may benefit
New Jersey commuters who used to cross a river into New York or Philadelphia but have been working from home could yield an unexpected windfall for the state.