Senate budget plan passes with $2B in cuts, $1.6B in new taxes, fees

Is New Jersey heading for a fiscal catastrophe? Budget analysts sound the alarm.

Gov. Phil Murphy's $58.1 billion budget relies on about $1 billion in new taxes on bowling, laser tag and other recreational activities or higher taxes on existing items, such as online gambling and cigarettes.

Budget heads to conference committee after Senate approves amended plan

The Senate passed a $67 billion budget for fiscal 2026 Tuesday. The overall budget grows by about 1.5% even though the general fund budget — the portion funded by direct state taxes — fell by more than $400 million. The bill now heads to a House-Senate conference committee. (Photo by Bryan P. Sears/Maryland Matters)The Senate Tuesday voted to approve the two-bill budget package that includes the overall spending plan and a second proposal that i…

Budget VWS: The Senate was finally able to discuss Minister Agema's health care budget on Tuesday. There was a lot of criticism of the cuts. "We have…

Senate budget plan passes with $2B in cuts, $1.6B in new taxes, fees

The Senate passes a state spending plan that includes $1.6 billion in new taxes and fees and $2 billion in cuts.

Senate unanimously passes budget plan

The Senate on Tuesday approved its version of the 2026-2027 budget on a vote of 31-0, proposing to spend $153.5 billion in state revenue and $336 billion when including federal funds. This is Finance Chair and Houston Senator Joan Huffman’s second session leading the budget writing process, and she thanked her colleagues for their full support. “This budget goes beyond just being balanced—it is a fiscally conservative plan with strategic investm…

EPR redefined as tax with estimated cost £2bn higher

The Office for Budget Responsibility has labelled Extended Producer Responsibility (EPR) as a tax in its most recent economic and fiscal outlook.