Trenton – Senate President Steve Sweeney issued the following statement on today’s passage by the Senate of the New Jersey State Budget for Fiscal Year 2022 (S-2022):
“This budget represents an important statement to all New Jersey residents: we are primed and ready to rebound from the pandemic. This spending plan makes important new investments that bring tax relief, increase affordability, reduce debt, and enhance the health and safety of residents. It is our state’s blueprint to emerge from the ravages of COVID-19 stronger than ever.
“For those who are still struggling to pay basic bills, the budget sets aside three-quarters of a billion dollars for rental and utility assistance. For middle class families, the plan includes tax credits for families, rebates for homeowners, and investments to help both college students and retirees.
“The plan also safeguards the long-term health of New Jersey itself, with an additional $2.5 billion payment to the underfunded pension plan, more than a billion dollars for a Rainy Day Fund, and a commitment to pay off older, more expensive debt. In addition, it guarantees legislative oversight on how $6.5 billion in federal funds from the American Rescue Plan are spent. In short, this is the epitome of responsible budgeting to benefit future generations.”