On May 19, Governor Mikie Sherrill and State Treasurer Aaron Binder announced increased April revenues, along with actions to further reduce the State’s structural deficit and increase its projected surplus amid ongoing national and global economic uncertainty.

In testimony before the Senate and Assembly Budget Committees, Treasurer Binder announced April revenue collections exceeded FY 2026 targets. Combined with an additional $50 million in spending cuts in the Governor’s proposed budget, this reduced the structural deficit to below $1.5 billion and boosted the surplus to nearly $6 billion.

The Administration has updated the New Jersey Report Card to reflect the revised spending changes. Updates can be viewed here.

Treasurer Binder’s full remarks before the Senate Budget Committee can be read here.

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