TRENTON, NJ -- Assemblyman Dan Benson (D-Mercer, Middlesex) said on Thursday that the New Jersey State Budget is in "uncharted territory" resulting from the economic impact of the coronavirus pandemic.
"We now find our state in a much different financial position than we envisioned just a few short months ago," said Benson. "We've never seen a modern economic crisis caused by a pandemic. We are in totally uncharted territory. However, government continues to function in these unprecedented times, and we remain committed to New Jersey's working families."
Benson, who serves on the Assembly Budget Committee, received grim testimony from the Office of Legislative Services and the State Treasurer on budget projections for the remainder of fiscal year 2020 and fiscal year 2021,
Treasury estimates reflect a budget shortfall of up to $2 billion. The state budget deadline has been extended to September, beyond the normal June 30 deadline, in order for the State to manage the pandemic and assess the financial impact of it.
"The fiscal forecasts we heard today are very troubling to say the least. I'm committed to working together to make the right investments in our communities and our state to come out of this pandemic financially stronger while maintaining an unwavering eye towards safety and health," Benson added.
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