On this past weekend’s edition of NJBIA’s “Minding Your Business,” NJBIA Chief Government Affairs Officer Chrissy Buteas discussed Gov. Phil Murphy’s proposed FY22 budget, which includes the first full pension payment since 1996, but also a historic amount of spending.
Buteas was asked by host Bob Considine if the spending behind the proposed $44.8 billion budget – which is more than 29% higher than the last signed budget under Gov. Chris Christie – is sustainable.
“We don’t think so,” Buteas said. “Our expenditures right now are $4 billion higher than our revenues. So when we’re moving forward and we know that we’ve already increased taxes over the last three years, we’ve already had federal stimulus funds come in, we know that the state has borrowed some of the most amount of money in the nation – where do you go from there?”
NJBIA’s “Minding Your Business” is a weekly TV show that can be viewed at 9:30 a.m. on News 12+ Saturday and Sunday.