N.J.’s $60.7B state budget with reduced senior tax cut gains momentum in last-minute Sunday hearings

New Jersey lawmakers approved a $60.7 billion state budget during late-night Sunday hearings. The plan addresses a $3 billion deficit by revising health costs and school funding. The budget also modifies StayNJ tax relief, which leads to reduced gains for senior tax cuts. These measures were finalized through committee votes to stabilize the state's finances while managing essential expenditures. The approved budget focuses on deficit reduction and the restructuring of specific tax relief programs for residents.