TRENTON, N.J. -- A New Jersey State Senate committee will hold a public hearing Thursday to discuss Gov. Phil Murphy's proposed budget for fiscal year 2023. 

The governor laid out his $48.9 billion plan last month. His biggest initiative -- ANCHOR, or the Affordable New Jersey Communities for Homeowners and Renters, property tax relief program.   

Murphy dedicated roughly 24% of state expenditures to direct aid to education, saying this is critical to undo pandemic learning loss and meet mental health challenges posed by the past two years.

He also proposed a $300 million affordable housing production fund.

Thursday's virtual hearing begins at 10 a.m.

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