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New Jersey got its first credit rating upgrade since 2005, after one of the three main Wall Street rating agencies commended the Garden State on its ample cash on hand and efforts to cut its credit card debt.
New Jersey’s December unemployment rate dipped from 6.7% to 6.3% amid the holiday, finding its jobs recovery lagging behind the national one.
Gov. Phil Murphy said the first budget proposal of his second term will include no new tax increases, a vow made in his reelection campaign.
Gov. Phil Murphy is pledging a full payment to New Jersey’s troubled public employee pension system for the first time in nearly a quarter of a century, a proposed $6.4 billion infusion that Murphy is hailing as a symbol of the state’s fiscal resilience amid the second year of the coronavirus pandemic. The payment would make up nearly 15% of the $44.8 billion proposed spending plan Murphy unveiled Tuesday during a livestreamed address. Because governors of both political parties failed to set aside the state's full contribution each year for public employee pensions, New Jersey los...