Home>Press Release>The Governor and the Legislature Have Agreed On A State Budget

The Governor and the Legislature Have Agreed On A State Budget

By NJG Press Releases, July 01 2018 4:31 pm

Craig J. Coughlin
Speaker of the New Jersey General Assembly

Friends –

I am pleased to announce the Governor and the Legislature have agreed on a state budget. There was a lot of work to do this year and to repair the damage done over the last eight years. This budget required the legislature to perform due diligence, engage in painted negotiations, and take a firm stance on the items that would directly provide New Jersey resiednts relief. We accomplished many of our goals.

In this budget, we’ve made sure our seniors and working families received the tax relief we promised and we’ve increased funding to schools to help pay for more teachers and enhanced resources for students.

The FY’ 19 spending plan also:

  • Fully restores Homestead Rebate for seniors and working families;
  • Increases the Earned Income Tax Credit and establishes a Child and Dependent Care Tax Credit
  • Increases K-12 school funding approx. $400 million, including $57 million for Pre-K expansion;
  • Appropriates $2 billion towards highway, bridge and NJ transit infrastructure;
  • Restores funding for invaluable social programs supporting charity care, cancer programs and reentry programs;
  • Makes college more affordable by increasing funding for TAG and EOF, and;
  • Restores $15 million to the Fair Housing Trust Fund.

We’d like to say thank you, New Jersey, for sharing your needs and concerns with us during the budget process. There’s much more work to be done for our state and we’ve already begun.

Sincerely,

Craig J. Coughlin
Speaker of the New Jersey General Assembly

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