Gov. Mikie Sherrill on Tuesday unveiled her budget for the 2027 fiscal year. It’s a record $60.7 billion spending plan that funds everything from schools to transportation, boosts property-tax relief and recommends a $7.3 billion pension contribution. The Sherrill administration, though, has warned about potential cuts to be decided.
“The hard truth is we’re going to have to make some tough choices to deliver for people long-term,” Sherrill told a joint session of the Legislature in Trenton. “To get to affordability, we have to start with responsibility.”
Finalizing New Jersey’s annual budget is a months-long process with sometimes tense debate among lawmakers, lobbyists, advocacy groups and citizens who testify at public hearings. The Legislature and the governor must have a budget in place by July 1.
Priorities by the numbers
Where does the money go?
Executive operations includes prisons, law enforcement, human and mental-health services and veterans’ homes.
Grants-in-aid includes property tax relief, NJ FamilyCare, child protection services, programs for people with disabilities and support for higher education.
State aid includes education aid programs, school construction debt, municipal aid, income assistance programs and aid to county colleges.
Help for homeowners
Other highlights:
- $12.4 billion for the K-12 school funding formula, for a 2.8% increase
- $582 million for child care assistance to benefit 77,500 kids, or 3% more than the current year
- $25 million for re-housing programs
- $7.2 billion for NJ FamilyCare to serve 1,849,306 individuals, or 1% more enrollees
- $215.3 million increase — 26% higher than the current year — for NJ Transit operating subsidy
- A New Jersey Report Card, for “people to see where their tax dollars are going,” to debut next month
— Graphics by Renee Maskin
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