The New Jersey Department of Treasury released its FY2018 spending proposal last evening. The proposed spending plan, which Governor Chris Christie unveiled last month, totals $35.5 billion and does not include many major changes. In fact, under the proposal school funding remains flat.
The budget would grow state spending by 2.9 percent. Spending has increased about 20 percent since Christie took office seven years ago. The budget assumes strong revenue growth, at 3.6 percent, and leaves a thin reserve of less than $500 million.
The state’s fiscal year begins July 1.
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