New Jersey approves budget
Tuesday, June 23rd, 2009
By: Phil Gregory
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The Budget Committees in the State Senate and Assembly have approved a New Jersey budget plan. They took into account a windfall of more than 400 million dollars collected by a tax amnesty program. The full Legislature is expected to vote on the new budget on Thursday.
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The fresh influx of money will be used to restore property tax rebates for families with incomes up to $75,000. Households with incomes up to $250,000 will get back property tax deductions of up to $5,000.
Senate Majority Leader Steve Sweeney says he's looking forward to getting the revised budget enacted.
Sweeney: This is not a budget full of sunshine. We've made some very difficult cuts. There's a lot of worthwhile programs that actually have been impacted and it's painful. But it's the best budget under these economic circumstances that we're dealing with.
Sweeney says he hopes an improved economy next year will let lawmakers restore funding for programs like vocational training for people with disabilities and family care.