POLITICS

States Scramble to Finalize Budgets Ahead of Deadlines

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Trenton — Lawmakers passed a $60.7 billion fiscal year 2027 budget and approved a supplemental spending bill late Sunday, June 28, and advanced an increase to the child tax credit; the supplemental package reportedly contains about $359 million in targeted projects that lawmakers moved into the 2026 budget period before its June 30 expiration. Lansing — In Michigan this week, the Legislature faces a statutory deadline to finalize the 2026-2027 budget with Wednesday set as the deadline; House Republicans released a $75.8 billion framework that avoids new taxes and reduces spending, while Democratic control of the Senate and the governor's office makes interparty compromise necessary and House leaders postponed planned votes ahead of extended session days.

Prepared by Lauren Mitchell and reviewed by editorial team.

Timeline of Events

March: Governor Mikie Sherrill introduced her initial FY2027 budget proposal.
April: Michigan House Republicans approved a $75.8 billion budget plan reducing overall spending.
June 28: New Jersey Legislature passed a $60.7 billion FY2027 budget and cleared supplemental spending measures.
June 30: The 2026 New Jersey budget is scheduled to expire at 11:59 p.m.
This week: Michigan faces a statutory budget deadline with postponed House votes and anticipated long session days.

Why This Matters to You

The budget decisions in Trenton and Lansing affect your wallet. They determine state taxes, public services, and the child tax credit. If you're in Michigan, keep an eye on how the budget negotiations unfold this week.

The Bottom Line

The fiscal year 2027 budgets are shaping up. New Jersey has passed a $60.7 billion budget, while Michigan's $75.8 billion plan is still in the works. It's a reminder that our tax dollars are at work. Worth forwarding if you know someone in these states.