How New Jersey’s New Budget Affects Families And Taxpayers
By: Eric Scott | Published: 2025-07-01 09:45:00 | Source: nj1015.com
💲 Gov. Murphy signed new budget minutes before midnight
💲 Budget totals a record $58.8 billion
💲 More than $1 million in tax hikes
A mere 18 minutes before the midnight deadline, Gov. Phil Murphy signed his final New Jersey State Budget.
At $58.8 billion, the spending plan set another all-time record and continued Murphy’s legacy of spending more money than the state brings in.
It further adds to the tax burden of New Jersey families by including more than $1 billion in new or increased taxes.
Murphy’s ultimate legacy has been a nauseating tax and spending spree that has plunged New Jersey deeper into debt and made being able to afford to live in this state beyond the grasp of many.
Since taking office nearly eight years ago, Murphy has increased spending more than 60% and added…
