New Jersey State Senate Passes Measure Allowing Gov. Phil Murphy To Borrow $10 Billion To Close Budget Gap
NEWARK, N.J. (CBSNewYork) -- New Jersey Gov. Phil Murphy is one step closer to borrowing the $10 billion he says he needs to close a budget gap due to the coronavirus pandemic.
The Democrat-led Senate passed a measure Thursday allowing the governor to borrow the money.
Republicans argued against it, however, saying the budget estimates are premature and don't take into account income tax levies.
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The bill now goes to the Assembly, also led by Democrats.
Murphy says New Jersey is facing a budget shortfall through June of 2021.
