NJ Gov. Sherrill on the record: What’s in the $60.7B budget plan

NEW JERSEY - New Jersey Governor Mikie Sherrill is calling her first budget proposal an "affordability budget" and she claims it’s the most fiscally responsible spending plan the state has seen in years.

What we know:

Sherrill spoke to Good Day New York on Tuesday, a day after delivering her first budget address, outlining what’s inside her $60.7 billion proposal.

"As you said, this is an affordability budget, the most fiscally responsible budget our state has seen in years: $2 billion in savings," Sherrill said.

By the numbers:

The governor noted that over the past eight years, the state budget increased by an average of 6.8% annually. Under her proposal, she said, spending would rise by just 1.6% — below the rate of inflation.

"And at the same time, it fully funds our pension. We’re paying our bills, making sure that we are preparing for the future, not mortgaging our kids’ future with this budget," she said.

Property tax relief — with changes

The spending plan includes major property tax relief, though not without adjustments.

Sherrill’s budget apparently saves roughly $500 million by modifying the "Stay New Jersey" property tax program, including lowering the eligibility threshold from $500,000 to $250,000.

Still, she defended the changes.

"This budget gives more property tax relief than any budget in the history of New Jersey," Sherrill said. "I’ve heard from families about how difficult it can be, especially for seniors who are on a fixed income."

She said the revisions are designed to make the program more sustainable and better targeted.

"That’s why we focus on the state program, making it more resilient, protecting it and directing it to those middle class seniors who most need it," she said.

Sherrill acknowledged property taxes remain a top concern for homeowners statewide.

"More needs to be done," she said. "We have to work on consolidation" of services such as school administrative programs, accounting and busing systems to drive down long-term costs.

"In too many cases, we are just not seeing … as we put so much of our property tax money into our schools, we’re not getting the bang for our buck that we need," she added.

K-12 investment and mental health funding

The governor’s proposal includes a record investment in K-12 education. She said some of that funding will help schools manage rising healthcare costs amid federal cuts and changes.

"We want to make sure our families, our teachers, our students are taken care of," Sherrill said.

She also pointed to new investments in programs with proven outcomes.

"I’ve also put money into those programs that we know get good outcomes — high intensity tutoring — and then making sure we are funding mental health programs for our children," she said.

Sherrill tied that funding to what she described as a youth mental health crisis linked to social media.

"We know in too many cases we’re having a mental health crisis often caused by social media," she said. "That’s why we are focused in this state on being one of the front runners … in addressing this mental health crisis for our kids."

FIFA World Cup in NJ

While the budget focuses on fiscal year 2027, Sherrill also addressed the economic impact of the 2026 FIFA World Cup, which will bring matches to MetLife Stadium.

She said the state is planning to maximize the economic boost while protecting taxpayers.

"We are focused on everything. And as you said, it’s a look ahead budget," she said. "Making sure our small businesses are seeing an uptick in business … and at the same time not leaving taxpayers holding the bill for these things."

Sherrill added that the broader goal is accountability and long-term stability.

"Focused on driving in programs that are actually delivering for New Jerseyans while at the same time cutting our deficit in half," she said.

And on a lighter note — yes, she plans to be back at MetLife Stadium in December for the Army-Navy game.

"I will be rooting for the midshipmen," Sherrill said with a smile.