Trenton – Senator Paul Sarlo, chairman of the Senate Budget and Appropriations Committee, issued the following statement on Governor Phil Murphy’s Fiscal Year 2023-24 Budget Proposal:
“This is a serious spending plan that will be given a thorough review by the Senate Budget Committee in the months ahead.
“Our top priority is to find sustainable ways to make the lives of New Jersey’s residents more affordable, to reduce their cost of living and to provide tax relief for homeowners, renters, businesses, families and seniors. The Governor’s proposal has no tax increases, tax relief for residents and businesses, no fare increases for NJ Transit, and fiscally effective investments in school aid and the pension fund.
“We have to be mindful of the national and international conditions that could impact the economy, state revenues and the financial well-being of the state’s residents and businesses.
“We need to continue to be fiscally responsible with the use of our resources and look to identify savings in state spending at the same time we make strategic investments in infrastructure and to expand economic opportunities. The large surplus provides a prudent safety net in preparation of any potential economic downturns and the debt reduction will reduce long-term costs.
“We will use the Governor’s proposal to produce a state budget that addresses our needs in a responsible and effective way.”