New Jersey Governor Jon Corzine presented his 2009 Fiscal Year Budget Proposal before a joint session of the New Jersey Legislature on the 26th.
The Governor proposed cuts to state spending by $500 million over the previous year's $33.5B budget. It does not contain proposals for any new taxes or fees.
During the budget address Corzine mentioned the property tax crisis and proposed that 70% of homeowners will a $1,000+ rebate just as last year. He is focusing on reducing property taxes for for households who earn between $100,000 and $150,000; and with those over $150,000 no longer eligible for rebates.
Following the new school funding formula, Corzine want to increase education aid by $550M.
Click here to view and/or hear the entire address (text, pdf, audio, video)
Source: NJAR
Copyright 2008 by Lawrence Yerkes. All Rights Reserved.
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