N.J. Gov. Phil Murphy proposes $58 billion budget, with record funding for NJ Transit
New Jersey Gov. Phil Murphy delivered his final budget address on Tuesday as he wraps up his second term in office.
Republicans say the whopping $58 billion budget will end up raising taxes, but Murphy, a Democrat, says his proposal has a more-than-$6-billion surplus and prioritizes property tax relief, social services, education and funding NJ Transit.
Lawmakers will vote on the budget in June.
Murphy vows to fight for everyone during his remaining days
The governor shook fellow lawmakers' hands and then told state residents his proposed final budget protects families facing rising food and home costs.
"So, to every New Jerseyan who shares these concerns, here is my message to you: our administration is going to spend every minute we have left fighting for you," Murphy said.
The Democrat wants zoning laws changed to build more affordable housing and says there's $4 billion in property tax relief for some senior citizens and 2 million homeowners and tenants relying on the Anchor Program.
He's also offering a new sales tax exemptions for baby products like cribs, car seats, nursing bottles and strollers.
What's proposed for NJ Transit
Murphy is calling for record-high funding for the transit agency.
CBS News New York's Christine Sloan spoke to NJ Transit's new CEO, Kris Kolluri, about where much of the money will go.
"We need almost 1,000 buses and almost 250 new rail cars in order to replace all the old ones and modernize our entire fleet," Kolluri said. "Starting this year, as soon as the budget passes, we'll start placing orders between now and the next three years."
"I think for the amount that we are paying, like it could be upgraded," commuter Yanira Izquiero said.
However, funding won't fix signal problems on NJ Transit lines owned by Amtrak.
"It's always delays. It's just always best to show up as early as possible," said Renee Holmes of Plainfield.
Republicans warn proposed budget will increase taxes
While some Republicans say NJ Transit needs to be funded, they also say Murphy's budget is huge at a time the Trump administration plans on making cuts on the federal level.
"There is almost a $4 billion shortfall," state Sen. Holly Schepisi said. "Taxpayers in New Jersey will be impacted by it. They may call it certain things as fee increases or this or that. It's taxes and our taxes are going to be going up."
The governor also said there will be higher taxes on adult marijuana use and on cigarettes and alcohol.