N.J. facing ‘fiscal disaster’ that’s just weeks away from coronavirus pandemic, Murphy says

NJ.com

New Jersey is facing a financial disaster due to loss in revenue and spike in expenses related to the coronavirus outbreak that could be just weeks away, Gov. Phil Murphy said Monday. “Right now, it’s pouring,” Murphy said, shortly after announcing he was ordering all public and private schools closed for the rest of the academic year. “We are on the brink of having to make very tough and, quite frankly, very unpalatable decisions.”Murphy has previously warned of “historic” public worker layoffs without federal assistance.Murphy rescinded an executive order Monday from last year tasking the state treasurer to achieve a $1.26 billion surplus and said he plans to veto “numerous” bills to appropriate money to certain causes and programs. The governor called on Congress to provide financial relief to the Garden State. “A fiscal disaster is not months away — these decisions will be on our doorstep in just a few weeks,” Murphy said. “Congress needs to act, and act now.”

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