Tagged: Medicaid

Governor Christie Presents the FY 2018 Budget

Earlier this week, Governor Christie announced his final State Budget to a joint session of the Legislature. The Governor’s Fiscal Year 2018 budget of $35.5 billion represents a 2.6 percent increase from the prior year. It assumes annual growth in the State’s major tax revenues (gross income tax, sales tax, and corporate business tax) and also reallocates funding between programs. The highlights of the FY 2018 Budget include: $17.4 billion in school and local aid, representing almost half of all State spending; A $2.5 billion contribution to the State pension system, with payments occurring quarterly; Cuts to most Executive Departments including Agriculture, Community Affairs, Corrections, Environmental Protection, Labor, Law and Public Safety, Military and Veterans Affairs, Transportation, and Treasury; Funding increases to the Departments of Health and Human Services for the expansion of FamilyCare, opioid addiction treatment, and graduate medical education; $20 million appropriation for lead remediation assistance for low and moderate income households; Additional State health benefit reforms, saving the State $125 million in FY 2018; and A lump-sum contribution from the State Lottery system to the State’s pension system to reduce the existing unfunded liability. Governor Christie also proposed a supplemental appropriation in the current fiscal year of $400 million for the State’s transportation system, to be allocated within the next 100 days....

Governor Christie Delivers 2017 State of the State Address

On January 10, 2017, Governor Chris Christie delivered his State of the State address to a joint session of the New Jersey Legislature. The Governor concentrated his remarks on his accomplishments over the past seven years, and his goals for the final year of his Administration. The Governor noted that during his tenure, the State saw seven consecutive years of job creation, decreasing the unemployment rate from 9.8% to 5.0%. The collective size of State, county, and local government was reduced by 31,000 employees and Discretionary State spending is $2.3 billion less today than it was nine years ago. The State contributed $6.3 billion to the State pension system since the Governor took office, double the amount that has been contributed over the past sixteen years. Governor Christie also stated that 2017 will be the first year since 1996 that New Jersey residents will see broad-based tax cuts, including a reduction in the sales tax, the phase-out of the estate tax, increases in retirement income tax exclusions, and increases in the earned income tax credit.