New Jersey is already ranked as one of the most expensive states in the nation. Now, Gov. Mikie Sherrill says the state is facing a looming $3 billion budget deficit, which could make it even harder for the growing number of families living paycheck to paycheck.
The gap is driven in part by the loss of more than $3 billion in federal Medicaid funds in the coming years and the end of the $6 billion allocated to the state for pandemic relief from the American Rescue Plan Act.
Sherrill said she will address the problem by looking for cuts in programs and services, instead of raising taxes.
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