Gov. Mikie Sherrill has proposed a $60.7 billion budget for fiscal year 2027, increasing funding for schools and public transportation while cutting more than $2 billion from other programs to offset costs. The plan includes $372 million more for K-12 public schools and $213 million for public transit, while reducing funding for several programs, including a $500 million cut to the StayNJ senior property tax relief program. Sherrill said the change would focus the benefit on middle-class seniors earning $250,000 or less. Republican lawmakers, including Sen. Anthony Bucco and Sen. Declan O’Scanlon Jr., criticized the proposal, raising concerns about cuts to property tax relief and the elimination of some business tax deductions. The proposal represents a 1.6% increase over the current state budget and now heads to the Legislature for hearings and negotiations before the June budget deadline. Follow us @tcnjsignal on YouTube, X, TikTok, and Instagram for more! ✒️ & ?: @andre_paras / Video Editor This video was produced in collaboration with the NJ State House News Service (https://njstatenews.com)
