TRENTON, N.J. (AP) — Both houses of New Jersey’s legislature have approved a $34.1 billion state budget that raises some major taxes but makes a full previously agreed-upon payment to pension funds for public employees.
Republican Gov. Chris Christie has said he intends to veto increases on high-earners and corporations.
His plan calls for balancing the budget after downgrading budget projections by cutting the pension contributions.
The budget was adopted Thursday in the Assembly and Senate, both on party-line votes with Democrats in favor of it and Republicans opposed.
A balanced spending plan must be signed before it takes effect Tuesday.