The New Jersey Legislature wrapped up its public hearings on the State Budget this week at NJIT in Newark. CIANJ testified in support of the Governor’s proposed budget of $34.8 billion because for the seventh year in a row, no new taxes are proposed. Next up will be the Commissioners and heads of each agency who will testify on their proposed budgets before the Assembly and Senate Budget Committees. The good news is New Jersey is in surplus territory and now the jockeying for position begins with regards to what gets funded and what does not. The real battle happens in May and June when the budget is finalized. Still looming is talk of a gasoline tax increase, a possible phase out of the estate tax, and a ballot question on pension payments. To view CIANJ’s testimony see HERE.