"Gov. Phil Murphy signs $54B budget, ensuring fiscal stability for New Jersey"

New Jersey Governor Phil Murphy signed a $54.3 billion budget, which includes a new property tax relief program for senior citizens called StayNJ. The program provides tax credits worth half a senior's property tax bill up to $6,500 for incomes up to $500,000. The budget also includes doubling the child tax credit, a full pension payment, and an $8.3 billion surplus. The budget does not extend the corporate business tax surcharge, but allocates $892 million in federal pandemic relief funds and $2 billion for the ANCHOR property tax relief program.