Budget Statement: Senate Speaker Steve Sweeney
Senate Speaker Steve released the following statement after the Senate adopted the state budget for fiscal 2022:
“This budget represents an important statement for all New Jersey residents: we are prepared and ready to bounce back from the pandemic. This spending plan includes significant new investments that provide tax relief, increase affordability, reduce debt and improve the health and safety of residents. Our state’s plan is to emerge from the ravages of COVID-19 stronger than ever.
“For those still struggling to pay their basic bills, the budget sets aside three quarters of a billion dollars for rental assistance and utilities. For middle-class families, the plan includes family tax credits, homeowner discounts, and investments to help both students and retirees.
“The plan also protects the long-term health of New Jersey itself, with an additional payment of $ 2.5 billion to the underfunded pension plan, more than $ 1 billion for a Rainy Day Fund and a commitment to repay older and more expensive debts. In addition, it ensures legislative oversight over how the $ 6.5 billion in US bailout federal funds are spent. In short, it is the epitome of responsible budgeting for the benefit of future generations. “