Gov. Phil Murphy’s budget proposal for the 2026 fiscal year includes many high-level spending priorities including property-tax relief, full funding of public schools and public-worker pension funds, modernizing New Jersey Transit and more investment in maternal health programs.
NJ Spotlight News anchor Briana Vannozzi and budget and finance writer John Reitmeyer analyze the major elements of Murphy’s plan.
While Murphy has said he’s capping all discretionary spending to tighten the structural deficit, there’s still lots of time for this plan to change before the budget is finalized. Moreover, financial plans could be upended if New Jersey loses federal funding for things like Medicaid and infrastructure as congressional Republicans attempt to deliver President Donald Trump’s federal budget wish list.
