Gov. Chris Christie, a second-term Republican, put forward his seventh state budget earlier this week, a $34.8 billion spending plan that increases funding for education and public-employee pensions and also pads the reserve account.
The new budget — which is now subject to a review by lawmakers — calls for a modest 3 percent increase in spending, and it includes no new taxes or tax increases. It also holds funding for municipal aid, property-tax relief, and local school districts essentially flat. And there’s no new borrowing or other revenue budgeted for a state Transportation Trust Fund that is on course to run out of money by June 30.