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Gov. Murphy, New Jersey legislators agree to deal allowing state to borrow money amid COVID-19 pandemic

JULY 13, 2020 | by Pat Ralph | PHILLY VOICE

By Pat Ralph, includes “New Jersey will now be permitted to borrow upwards of $9.9 billion to help the state cover any financial costs as a result of the COVID-19 pandemic after Gov. Phil Murphy and state legislators reached a deal on the matter. … The state Treasury Department has lowered its revenue projections through the next fiscal year by $10 billion. That includes a loss of $2.8 billion in the current fiscal year.”

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