Murphy Administration Plans to Retire $1B in Bonded Debt

njspotlightnews.org

Gov. Phil Murphy’s administration is planning to retire another big chunk of New Jersey’s bonded debt, this time a total of about $1 billion.

The debt-reduction effort will be carried out using funds deposited earlier this year in a multibillion-dollar account maintained outside of the state budget Murphy and lawmakers created specifically to address New Jersey’s significant debt.