Governor Murphy proposes record tax relief in final New Jersey budget address

February 25, 2025 | 2025 Legislative Sessions, New Jersey


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Governor Murphy proposes record tax relief in final New Jersey budget address
In a powerful final budget address, New Jersey Governor highlighted the administration's commitment to economic security for all residents, emphasizing the urgent need to address the high cost of living. "The single biggest challenge facing the people of New Jersey is that the cost of living is way too high," he stated, reflecting the anxiety many families feel about their financial futures.

The Governor outlined significant achievements in tax relief, noting that property tax relief for eligible homeowners has surged from an average of $246 in 2018 to over $1,500 this year—a staggering increase of more than 500%. He also announced a new sales tax exemption for essential baby supplies, aimed at easing the financial burden on working parents.

Highlighting the administration's focus on healthcare, he reiterated the commitment to making health services more affordable, particularly for children, through initiatives like Cover All Kids and the expansion of the Family Connects NJ program, which provides free nurse home visits for new mothers.

The Governor also addressed housing affordability, revealing plans to reform zoning and permitting laws to facilitate the construction of new affordable housing. He underscored the importance of these reforms in stabilizing housing costs and providing support for first-time homebuyers.

As he concluded, the Governor paid tribute to public servants who recently passed away, reminding attendees of the importance of community and service. His address set a hopeful tone for the future, with a clear message: the administration will continue to fight for the economic well-being of every New Jerseyan.

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Scribe from Workplace AI
Scribe from Workplace AI