$4.1B

March 6, 2019 | Number of The Day
Amount Gov. Murphy’s proposed budget allocates for debt payments

Gov. Phil Murphy’s budget proposal for fiscal year 2020 requires the state to allocate $4.1 billion to cover the debt payments that are needed to keep pace with all of New Jersey’s bonded debt. That represents more than 10 percent of total spending in the budget. Other major, fixed expenditures include $3.8 billion for the public-employee pension system and $2.7 billion to cover all employee and retiree healthcare obligations.