New Jersey Economists Urge Murphy Not To Cut His Way Out Of A $10b Budget Hole

A letter signed by 96 economists and experts is warning Governor Murphy and the New Jersey State Legislature against budget cuts. Facing a $ 10 billion shortfall brought on by the pandemic, Murphy plans to deliver a state budget proposal to the legislature next week.  

The economists and policy experts, including professors from Princeton and Rutgers universities, say the dire economic conditions in New Jersey require more government spending, not less. 

“Large cuts would erode the health and social infrastructure needed to continue combatting COVID-19, increase inequality, and exacerbate the economic downturn,” the letter says. “Instead of budget cuts, the state should look to raise revenues to balance its budget.”