Governor Murphy Signs Fiscal Year 2026 Budget into Law

Governor Phil Murphy Monday signed into law the Fiscal Year 2026 Appropriations Act. Over nine budgets spanning nearly eight years in office, “Governor Murphy has presided over sustained economic growth while making long overdue investments in addressing the needs of working New Jerseyans, from property tax relief, to school funding, to restoring funding for the State’s pension systems,” said the Governor’s Office.

The $58.78 billion Fiscal Year 2026 (FY2026) budget, which was passed by the Legislature earlier today, redirects over 75 percent of the total budget back into our communities in the form of grants-in-aid for property tax relief, social services, higher education, as well as State aid to schools, municipalities, and counties. The budget includes an all-time high level of…