Sherrill Signs $60.7B NJ Budget, Fulfilling Promises Yet Preserving Old Budget Habits

Governor Mikie Sherrill signed New Jersey’s $60.7 billion budget, delivering on key campaign promises—full annual $6.1 billion pension payment, a temporary 25% child tax credit, record K-12 funding and direct property tax relief—while also embracing traditional budget practices she criticized, including late-night passage and restored legislative earmarks. The plan scales back StayNJ for seniors, imposes new business taxes and fees (including a per-employee Medicaid charge and data-privacy fees), directs $120 million to Jersey City, and reduces the surplus to about $6 billion. Sherrill defended some district-friendly allocations, but Republicans decried the spending as pork, and critics argued the process remained opaque and rushed.