New Jersey Gov. Phil Murphy says he'll veto any budget sent to him by state legislators if it relies on "unverified" savings and other "gimmicks."
The Democrat made the announcement during a news conference Monday, the same day lawmakers plan to unveil their proposals. Hearings are then expected Tuesday and a vote on Thursday.
Murphy says lawmakers are proposing $1 billion in unsustainable and temporary revenue, along with $450 million in new spending.
According to Murphy, the proposal would land the state with a $164 million budget deficit.
“Should the Legislature send me this budget proposal, let me be perfectly clear: I will veto it,” Murphy said, adding that “when you build a financial house of cards year after year, and see it fall year after year, at some point you have to realize that the same old way of doing business in Trenton isn’t working."
Democratic Senate President Steve Sweeney said Friday that he would advance a budget that substitutes the governor's proposed income and sales tax increases for a surcharge on businesses while adding millions of dollars more in other spending.
The budget comments come as Murphy and the Democrat-led Legislature approach a June 30 deadline to enact a balanced budget.