Speaker Coughlin Statement on Stronger-than-Projected Revenues for FY23 Budget

(TRENTON) – Assembly Speaker Craig J. Coughlin (D-Middlesex) issued the following statement Monday in response to the Legislature receiving a revenue update for the Fiscal Year 2023 State Budget:

“The revenue update shared with the Legislature today demonstrates a surplus of billions of dollars beyond what was anticipated in the Governor’s proposed budget. This welcome news is made possible because we have made the difficult choices over the last five years to place New Jersey back on the road to fiscal health, and we will continue to make responsible decisions in this year’s budget.

“We have additional money this year, and New Jersey needs tax relief now. In this year’s budget, I will insist on the largest tax relief program in state history.

“I look forward to working with legislative leadership and the Governor over the coming weeks to craft this proposal and deliver on that promise for the people of New Jersey. With reasons to be cautious on the horizon, we will also make sure to leverage our surplus so we are ready to weather any storm coming our way.”