Budget deal is done, with only small details left to work out

Gov. Phil Murphy and Democratic legislative leaders have agreed in principle to a budget deal that doesn’t make everybody happy but doesn’t send the principals home miserable either, multiple individuals with direct knowledge of the budget negotiations have told the New Jersey Globe.

There is nothing to derail in the budget, but some smaller details are still being worked out.

Senate Budget and Appropriations Committee Chairman Paul Sarlo would only confirm that his panel is set to meet at 11 AM tomorrow morning.  A floor vote is expected on Friday morning,  the final day to pass a budget before the state government would shut down at midnight.

The legislature has a little wiggle room on that deadline.  In some years, presiding officers have ordered the clock stopped a little before midnight to prevent the advent of July 1.

It’s still not clear when the budget will be available to the public, although that could happen as early as late tomorrow afternoon.

Two sources confirmed that the energy gross receipts tax, which a large group of mayors from both parties had pushed for, will be included in the budget.  The number is greater than $75 million.

The budget will still include a big surplus.