Political and financial challenges are mounting in New Jersey as a new state Legislature prepares to take the reins in Trenton.
Democratic Gov. Phil Murphy is about two months away from delivering his seventh state budget address, and the fiscal outlook looks far worse than it has over the past two years.
Federal stimulus that delivered a boost to New Jersey’s economy in the wake of COVID-19 has dwindled. State tax collections are on the decline and changes to New Jersey’s tax code that are set to take effect in January could send revenues tumbling even further.
