In a little more than a month, New Jersey should have a new state budget; Republican lawmakers continue to push for changes to the budget proposal submitted by Gov. Phil Murphy.
GOP members of the Senate Budget and Appropriations Committee have proposed $8 billion in new tax relief, including direct tax rebates to residents. They also want to replenish the unemployment insurance fund, something business groups have sought. Whether the Democratic legislative majority adopts them has yet to be seen.
Federal regulators plan to cut off Medicaid funding to the troubled Woodland Behavioral and Nursing Center in Andover, following serious health and safety violations. The Centers for Medicare & Medicaid Services said multiple infection-control deficiencies at Woodland have resulted in 30 resident deaths since October 2021 due to COVID-19. A loss of federal funding would effectively shut down the facility, as it relies heavily on state and federal reimbursements, but Woodland can appeal the order. The nursing home’s name was changed from Andover Subacute to Woodland Behavioral and Nursing Center after it received nationwide attention at the height of the pandemic, when the bodies of 17 residents were found in a makeshift morgue.
Rising mortgage rates could keep some buyers out of the market, especially as home prices continue to rise. New Jersey Realtors says the median sales price for all properties was $420,000 last month, an increase of more than 9% over last April.
“Lack of inventory is a big part of it … Inventory is down 15%, or almost 13% year-over-year,” said Robert White, president of New Jersey Realtors. “With that being said, there’s not going to be as many closings, because there’s not as many houses as there were at the same time last year.” More than 80% of New Jersey realtors surveyed by the trade group say their clients postponed moving or selling because they couldn’t find alternative housing in their price range.
