NJ budget sails with bigger surplus and hundreds of targeted additions

Lawmakers unveiled a revised FY2027 New Jersey budget of $60.743 billion, only $15 million above Gov. Mikie Sherrill’s proposal, aided by stronger-than-expected tax collections that lift the year-end surplus to about $6.49 billion. The plan preserves a large opening balance and funds hundreds of targeted programs and local grants—spanning mental health, housing, re-entry initiatives, food security, and more—while making department-level increases (DCA, State, Children and Families, Health, Transportation) and offsetting reductions in Human Services and Education. Revenue gains from income, business, and insurance taxes counterbalance slower sales tax and investment earnings.”,