NJ Supreme Court ruling allows Murphy to borrow up to $9.9B, with limits

The state Supreme Court is giving Gov. Phil Murphy the go-ahead to borrow billions of dollars.

In an unanimous ruling Wednesday, the decision gives Murphy permission to take on new debt without voter approval to offset state revenue losses caused by the COVID-19 outbreak. But, the administration will have limits.

Breaking down the financial and political implications is NJ Spotlight budget and finance reporter John Reitmeyer and NJTV News Senior Correspondent David Cruz.