Sherrill unveils record $60.7 billion first budget

Spending plan for FY27 protects K-12 education, claws back seniors property tax relief

By: NJ State House News Service

Outlets: NJ State House News Service

Published: March 10, 2026

Words: 1,097

Last Updated: 1 week, 3 days ago

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Gov. Mikie Sherrill laid out a record $60.7 billion budget on Tuesday that would provide modest increases in a few key areas balanced by more than $2 billion in cuts to other programs, including property tax relief.

“Today, I’m submitting to this legislature the most fiscally responsible budget that our state has seen in years,” Sherrill said. “It fully funds our pension system. It does not raise taxes on individual New Jerseyans. …

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