Governor Phil Murphy is set to deliver his Fiscal Year 2026 Budget Address at 3 p.m. today, in the Assembly Chamber of the New Jersey State House. The proposed budget is expected to include substantial spending cuts, eliminating most one-time appropriations from the previous fiscal year and significantly reducing discretionary and non-competitive grants. These measures aim to tackle the state’s structural deficit and promote greater fiscal responsibility. This is Murphy’s final budget before he leaves office in less than a year.
