As COVID-19 Heats Up, Governor Puts $1B in Planned Spending in Deep Freeze

Social-distancing measures have sent consumer spending into a tailspin, a sharp downturn felt all across the state economy that’s reducing revenues in all sectors


Gov. Phil Murphy’s administration has put nearly $1 billion in planned spending in reserve in response to ongoing concerns that the coronavirus outbreak could take a huge chunk of revenue out of the state budget.

Among the fiscal year 2020 appropriations that have been sidelined by the administration’s spending freeze is $142 million that was supposed to cover the next installment of the state’s popular Homestead property-tax relief benefits, which was due to be paid out to thousands of New Jersey residents to help offset their sky-high property-tax bills in May.

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Posted: March 24th, 2020 | Author: | Filed under: New Jersey, News | Tags: , , , | No Comments »

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