Declan O’Scanlon, a Senator from New Jersey, has criticized Governor Murphy’s administration for its handling of the state’s budget. He said that the last budget leaves a $4 billion deficit and represents a missed opportunity to address New Jersey’s fiscal issues. This statement was made on X.
“It’s a wrap folks! The 8th and final Murphy administration budget has been enacted,” said O’Scanlon. “And it tragically leaves a $4 billion steaming pile of deficit for the next Governor. This administration squandered once-in-a-generation opportunities to fix NJ. Tragic.”
New Jersey’s 2025 state budget process involved intense discussions as lawmakers and Governor Murphy worked to address a multibillion-dollar deficit with a $56.6 billion budget. According to NJ Spotlight News, this budget included targeted tax increases and spending cuts aimed at stabilizing finances amid slowing revenue.
According to the New Jersey Department of the Treasury, the state managed to close a $2.1 billion deficit for fiscal year 2025, with total spending reaching $56.6 billion. However, forecasts indicate continued shortfalls and slow revenue growth for at least the next three years.
The Pew Charitable Trusts report that New Jersey has experienced annual budget deficits nearly every year over the past decade, peaking at almost $5 billion in 2020. The state saw brief surpluses during pandemic relief but continues to struggle with persistent pension and health benefit costs.
O’Scanlon, a Republican who has served in the New Jersey Senate since 2018 and previously in the Assembly, is known as a fiscal hawk. His official legislative biography highlights his advocacy for pension reform, transparency, and bipartisan cost controls.
