Garden State Times

Senate Republican Leader Anthony M. Bucco expressed concerns about New Jersey's financial situation, citing a report by Truth in Accounting that ranked the state last in the country for its finances. Bucco highlighted the state's high taxpayer burden, stating, "Governor Murphy and Trenton Democrats often brag about a $10 billion surplus while ignoring the fact that New Jersey is drowning in debt." He emphasized the need for fiscal responsibility, pointing out the state's $179 billion shortfall and the unsustainable financial path it is on.

According to the report from Truth in Accounting, New Jersey received a failing grade for its $179.2 billion debt and the highest taxpayer burden in the country at $53,600. The state's property taxes were also noted to be the highest in the nation, with the average property tax bill reaching nearly $9,500 in 2022, a record high.

Bucco criticized the management of taxpayer dollars by Governor Murphy and Trenton Democrats, accusing them of prioritizing wasteful spending over reducing taxes for small businesses and homeowners. He called for Republican reforms to address the financial challenges facing New Jersey and ensure a more sustainable future for the state.

In light of these findings, it is evident that New Jersey faces significant affordability issues that require immediate attention and corrective action.