New Jersey Lawmakers Choose Cuts Over Fair Taxes in New Budget

TRENTON, NJ — Facing a critical choice, New Jersey lawmakers passed a budget that prioritizes spending cuts and tax breaks instead of raising new, fair revenue from those most able to pay.

While a $6 billion surplus sounds impressive, it won’t protect us for long. With rising costs and a $1 billion structural deficit, that surplus will disappear quickly in a crisis. The surplus exists only because of painful sacrifices we have already made — delayed investments, program cuts, and services that already fall short for too many New Jerseyans.

Families are already feeling the squeeze, paying more and getting less while the state struggles to keep basic services running. This falls far short of delivering the affordability and security that people have been demanding. Looming federal cuts threaten to make it worse, putting Medicaid, housing, education, and food assistance all at risk.

New Jersey can’t cut its way to security, and we can’t wait for a crisis to act. The only path forward is to require the wealthy to pay their fair share. The longer the legislature waits to act, the worse the problem becomes.

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For The Many NJ is a statewide coalition of more than 40 organizations working to expand funding for essential services and improve budget practices to meet current and future needs, especially for communities that have been historically left behind.