Excerpt: The New Jersey Assembly passed a $29.8 billion budget early Tuesday morning, following the Senate's approval late Monday, all of which suspends property-tax rebates in 2010, increases no major taxes, and slashes state aid to schools and towns.
The spending plan, approved by a 21-19 vote, was down 8.8 percent from the budget for the fiscal year that ends Wednesday. It was only slightly different from the one proposed by Republican Gov. Christie in March.
[snip]
Education and municipal aid: Reduces school aid by $819 million, or 7.4 percent, and municipal aid by $446 million, or 23 percent. Reduced support for higher education would result in cuts to colleges and scholarship programs.
Good news for state library funding, though.
$4,299,000. That's slightly less than 1% of the $446,000,000 cut in municipal aid. Retiring Guy wonders what percentage of this larger amount will be shaved from local library budgets.
Probably a significant percentage if A2555 passes.
Federal aid is likely to be cut to states. State aid is being cut to municipalities. How ugly will it get?
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