Budget Committee Approves Spending Plan for FY-20 Budget Extension

Trenton – Senator Paul Sarlo, the chairman of the Senate Budget and Appropriations Committee, issued the following statement after the committee approved the three-month budget extension, S-20, for Fiscal Year-20:

“We have developed a three-month budget plan under crisis conditions that requires hard decisions to get us through the next stage of an extremely difficult economic recovery.  This budget is not what we want to do, but it is something we have to do.

“There are no winners here. We have never faced such sudden and severe financial circumstances, but we have a plan to make the best of limited resources and to address the critical needs of New Jersey as we contend with the fiscal consequences of the pandemic.

“It provides support for public colleges and universities that are experiencing severe financial challenges, a boost for the unemployment system, preserves funding for affordable housing and produces an increased surplus.

“Our work is far from done. We next have to focus on a fiscal plan for the following nine months and be prepared for the economic challenges we will continue to face over the next few years. The decisions will be even more difficult, but we can all be encouraged by our shared ability to produce a resourceful plan for the coming months.”