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But now those days of autopilot spending, and the consequential annual projection of multi -billion dollar deficits, are over. New Jersey’s State Budget is now being developed from the bottom up – setting out priorities and funding them based on the revenue that is actually available. The New Normal means no longer blindly funding commitments that prior legislators and governors made. Now, the New Normal means knowing how much revenue actually exists and then setting priorities within the funding that is available.

Governor Christie is proposing a fiscal year 2012 Budget of $29.4 billion, which is 2.6% less than the adjusted fiscal year 2011 appropriation for State spending.

The Governor’s Budget continues on the path of fiscal restraint by including a series of critical reforms, department savings, government performance enhancements, and focused tax cuts, while funding key priorities which protect many of New Jersey’s most vulnerable residents.

  • Reduces spending for the second consecutive year: a year-over-year reduction of 2.6%;

  • Increases education aid to every school district in New Jersey by a total of $250 million;

  • Fulfills the statutory commitment to make a $506 million pension fund payment ahead of time, by proposing to make the payment before the end of fiscal year 2011. This represents the first funding provided for the defined benefit plans since fiscal year 2009;

  • Provides $200 million in job-creating, focused, and strategic tax cuts;

  • Doubles the Homestead Benefit to provide direct property tax relief to New Jersey families;

  • Protects municipal aid and keeps formula funding at fiscal year 2011 levels;

  • Increases and secures New Jersey hospital funding by a total of $20 million; and

  • Maintains stable funding for New Jersey’s public institutions of higher education and increases funding for student financial aid programs by $20 million.

The Governor’s Budget takes every step possible to help safeguard the state’s most vulnerable citizens. From prescription drug aid for seniors to helping low-income tenants stay in their homes, the Governor’s Budget includes billions of dollars for residents of New Jersey who need assistance.

  • Preserves critical spending for senior and disabled prescription aid;

  • Avoids fare increases and expands bus service for NJ Transit;

  • Allocates $20.4 million to help the developmentally disabled lead richer lives with community placements;

  • Provides resources to keep 4,300 low-income citizens in their homes and apartments;

  • Increases funding to expand the number of patients in residential and community settings; and

  • Moves New Jersey’s troubled youth out of institutionalized programs and into community-based mental health programs.


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