Lakewood Largely Left Out of New Jersey's Record $60 Billion Budget.

Governor Mikie Sherrill last week signed New Jersey's largest budget ever, a $60 billion spending plan but Lakewood received just $1 million in municipal aid despite being the state's fourth-largest municipality. By comparison, Jersey City will receive an additional $15 million in state aid plus a $105 million loan. Under former Governor Phil Murphy, Lakewood typically received $7–8 million annually through discretionary aid, which has now been eliminated. Community leaders warn the shortfall could force the township to consider tax increases or service cuts. according to an article in the Lakewood shopper this past week.

Despite the cuts to Lakewood, the local state representatives Bob Singer and Sean Kean were the only 2 Republicans in New Jersey who voted YES for the budget!

Shlomo Schorr, Director of Agudath Israel of New Jersey, told the Shopper, Lakewood continues to be disadvantaged by a municipal aid formula based on population figures from more than 20 years ago, leaving it among the lowest-funded municipalities on a per-capita basis.

The budget did include A $2 million annual security grant for BMG  that was restored after initially being cut, and funding for nonpublic school security increased from $205 to $217 per student. A newly passed law by Assemblyman Avi Schnall will also allow unused nonpublic school aid to be redirected toward transportation reimbursements instead of being returned to the state.

Schorr also said the previously discussed state takeover of the Lakewood School District now appears unlikely in the near future. He suggested the proposal may have been used as leverage during the state's legal response to the school funding lawsuit  by R' Arthur Lang before being quietly set aside.

The budget also expands New Jersey's child tax credit, increasing benefits by 25% for eligible families, with credits ranging from $250 to $1,250 depending on household income.

For Lakewood, the budget is viewed as a significant disappointment, with local advocates pledging to continue pushing for a fairer state aid formula that better reflects the township's rapid growth and current needs.

Another bill included in the state budget could cost local businesses, yeshivos, and schools hundreds of thousands of dollars. Employers with 50 or more workers will now be required to pay a new state fee for each employee and dependent who receives health insurance through NJ FamilyCare, New Jersey's Medicaid program. The new assessment is expected to significantly increase costs for many large employers.