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NEW JERSEY REALTOR, THE VOICE FOR REAL ESTATE IN NEW JERSEY.

MORE INFORMATION IS ONLINE AT NJ REALTOR.COM.

AND BY THE PS E.G.

FOUNDATION.

FROM NJ PBS, THIS IS NJ SPOTLIGHT NEWS WITH BRIANA VANNOZZI.

>> GOOD EVENING AND THANKS FOR JOINING US THIS TUESDAY NIGHT.

I AM BRIANA VANNOZZI.

SPENDING AND A PROMISE TO MAKE NEW JERSEY MORE AFFORDABLE FOR MILLIONS.

GOVERNOR MURPHY TODAY LAYING OUT A $53.1 BILLION BUDGET FOR FISCAL YEAR 2024.

DELIVERING THE SPEECH TO A JOINT SESSION OF THE LEGISLATURE.

AFFORDABILITY WAS THE WORD OF THE DAY.

THE GOVERNOR PROPOSED DIRECT RELIEF TO FAMILIES BY DOUBLING THE CHILD TAX CREDIT AND CONTINUING THE ANCHOR PROPERTY TAX RELIEF PROGRAM.

BOOSTING INCOME ELIGIBILITY AND ACCESS TO PRESCRIPTION DRUG PROGRAMS.

PROPOSING NEARLY $1 BILLION IN THE SCHOOL AID FUNDING AND EXPANDING PRESCHOOLS AND HELP FOR HIGHER AT.

GOVERNOR MURPHY IS ALSO PUSHING TO MAKE ANOTHER FULL PENSION PAYMENT AND PLANS TO SET ASIDE A RECORD $10 BILLION FOR THE SURPLUS ACCOUNT.

MEANT TO HELP IN TIMES OF ECONOMIC SLOWDOWN.

THERE IS ALSO MONEY TO REBUILD THE JERSEY SHORE BOARDWALK, TO HELP PEOPLE WITH CRUSHING MEDICAL DEBT.

ALL OF THIS AS TAX REVENUE GROWTH IS SHOWING SIGNS OF SLOWING.

HERE ARE A FEW HIGHLIGHTS.

>> IT IS MY PLEASURE TO PRESENT MY PROPOSED BUDGET FOR THE 2024 STATE FISCAL YEAR.

IT IS A BUDGET DESIGNED WITH A SINGULAR PURPOSE.

TO CONTINUE BUILDING THE NEXT NEW JERSEY.

BUT HERE'S THE THING, THE NEXT NEW JERSEY ISN'T SOME FAR-OFF VISION.

THE NEXT NEW JERSEY IS HERE.

AND IT'S HAPPENING RIGHT NOW.

AT THE SAME TIME, I KNOW THAT SOME OF YOU DON'T FEEL CERTAIN OF YOUR PLACE IN THAT NEXT NEW JERSEY.

FIRST IT WAS THE PANDEMIC.

NOW IT IS INFLATION.

YOU'VE BEEN PAYING MORE FOR EVERYTHING FROM GAS TO GROCERIES, AND YOUR PAYCHECK HASN'T KEPT UP.

IT'S BEEN TOUGH ON YOUR FINANCES AND YOUR MENTAL HEALTH.

SO KNOW THIS.

THIS BUDGET WAS BUILT WITH YOU IN MIND TO SECURE YOUR PLACE.

FOR THE THIRD YEAR IN A ROW, IT HAS NO NEW TECH SIX AND -- NO NEW TAXES AND MORE MIDDLE-CLASS RELIEF.

IT WILL HELP HARD-WORKING FAMILIES BY EXPANDING FREE PRE-K.

IT WILL LOWER DRUG COSTS FOR SENIORS.

THIS BUDGET WAS BUILT TO HELP FIND YOUR PLACE IN NEW JERSEY BY SECURING YOUR PLACE IN THE NEW JERSEY OF RIGHT NOW.

NEXT MONTH, MORE THAN ONE MILLION FAMILIES WILL RECEIVE DIRECT PROPERTY TAX RELIEF THROUGH THE ANCHOR PROGRAM WE CAME TOGETHER TO CREATE.

AND BY THE WAY, THANK YOU.

THE DEADLINE FOR ANCHOR HAPPENS TO BE MIDNIGHT TONIGHT.

SO IF YOU HAVE NOT YET APPLIED FOR YOUR PROPERTY TAX RELIEF, GO TO ANCHOR.NJ.GOV.

ANCHOR.NJ.GOV.

BUT AFFORDABILITY DOESN'T JUST COME THROUGH WHAT WE CAN DO DIRECTLY FOR OUR FAMILIES.

AFFORDABILITY IS ALSO FOUND THROUGH THE INVESTMENTS WE CAN MAKE TO SHORT-CIRCUIT RISING TAXES AND COST IN THE FIRST PLACE.

AND NO INVESTMENT HAS SUCH AN IMPACT AS THE ONE WE MAKE IN OUR BEST IN THE NATION PUBLIC SCHOOLS.

THIS BUDGET WILL PROVIDE AN ADDITIONAL $830 MILLION OF DIRECT AID TO OUR PUBLIC SCHOOL CLASSROOMS FOR A TOTAL OF ALMOST $11 BILLION.

THIS BUDGET WILL MAKE THE THIRD CONSECUTIVE FULL PAYMENT INTO OUR STATE PENSION FUND.

WHAT IS IT $7 BILLION AMONG FRIENDS?

EACH YEAR, BY DOING SO WE KEEP OUR WORD AND WE MEET OUR OBLIGATION TO THE MANY THOUSANDS OF WOMEN AND MEN WHO MAKE OUR STATE RUN AND KEEP OUR STATE SAFE.

THIS WILL ALSO SET ASIDE MORE THAN $2.3 BILLION TO EITHER PAY DOWN EXISTING DEBT OR KEEP US FROM TAKING ON NEW DEBT ENTIRELY.

BUT MOREOVER, THIS BUDGET WILL BETTER PREPARE NEW JERSEY FOR ANY NATIONAL OR GLOBAL ECONOMIC UNCERTAINTY.

WITH A SURPLUS OF MORE THAN $10 BILLION.

THAT $10 BILLION IS NEARLY 20% OF THE ENTIRE BUDGET.

WE ARE GOING TO MAINTAIN OUR INVESTMENT IN OUR COMMUTERS BY GIVING THEM A SIXTH STRAIGHT YEAR OF NO FARE HIKES ON TRANSIT.

AND AT THE SAME TIME, WE ARE GOING TO CUT THE TRANSFERS FROM NJ TRANSIT CAPITAL PROGRAMS TO ITS OPERATING PROGRAMS.

TO A 21 YEAR LOW.

THAT MEANS MORE MONEY TO KEEP THE LINES RUNNING.

THE FACTS BEAR OUT THAT NJ TRANSIT IS MOVING WITHOUT QUESTION IN THE RIGHT DIRECTION.

I STOOD HERE FIVE YEARS AGO AND SAID, OUR ADMINISTRATION WOULD GET NJ TRANSIT WORKING EVEN IF IT KILLED ME.

I AM STILL HERE.

THIS BUDGET WILL ALLOW TEMPORARY 2.5 BUSINESS CHANCE -- TAX TO EXPIRE.

WE HEAR FROM THE BUSINESS COMMUNITY THAT ALLOWING THE SURCHARGE TO LAPSE WILL MEAN MORE MONEY FOR THEM TO CREATE JOBS, TO INVEST IN MORE AND EFFICIENT EQUIPMENT.

AND TO BE ABLE TO STAY HERE.

JUST AS THEY TRUSTED US TO KEEP OUR WORD IN LETTING THIS TEMPORARY SURCHARGE EXPIRE, I AM EXPECTING THEM TO KEEP THEIRS WITH THIS REVENUE.

SO IN SERVICE TO EVERYONE WHO SENT US HERE, LET US JOIN TOGETHER AS WE JOIN THIS NEXT BUDGET AND COMMIT TO THIS.

THE NEXT NEW JERSEY IS WHERE OPPORTUNITY GROWS.

WHERE WE FIGHT FOR EACH OTHER AND NOT WITH EACH OTHER.

AND MOST OF ALL, LET US CONTINUE MAKING NEW JERSEY THE STATE WHERE HARD WORK PAYS OFF.

THANK YOU, MAY GOD CONTINUE TO BLESS THE GREAT STATE OF NEW JERSEY AND THE UNITED STATES OF AMERICA.

>> LET'S DIVE INTO MORE DETAILS IN THIS BUDGET PROPOSAL.

RHONDA SCHAFFLER, SENIOR DIGITAL PRODUCT EDITOR COLLEEN O'DAY AND BUDGET WRITER SHARE THEIR INSIGHT ON THE BIG TICKET ITEMS.

RHONDA, LET ME GO TO YOU FIRST.

AFFORDABILITY, AFFORDABILITY, AFFORDABILITY.

TALK TO ME ABOUT THAT.

>> LET'S GO THROUGH WHAT WAS OUTLINED.

ONE, THE ANCHOR PROPERTY TAX RELIEF PROGRAM CONTINUING FOR MORE FUNDING NEXT FISCAL YEAR.

SOME HOMEOWNERS COULD GET UP TO $1500 IN RELIEF.

DOUBLING THE TAX CREDIT.

LEGISLATION HAS ALREADY BEEN INTRODUCED ON THIS AND THIS IS A NOD TO PROGRESSIVES, SOMETHING THAT PROGRESSIVE GROUPS HAVE BEEN FIGHTING FOR.

AND THEN THE EXPANSION OF THE SENIOR FREEZE.

MORE PEOPLE ARE ELIGIBLE, YOU DON'T HAVE TO BE IN THE STATE AS LONG.

THESE ARE THE CORNERSTONES OF AFFORDABILITY.

WE DID HEAR MORE THAN THAT, WE HEARD WITHOUT A LOT OF DETAILS BUT PAYING IT DOWN YOUR PERSONAL MEDICAL DEBT.

WE HEARD THAT THERE WOULD BE AN ALLOCATION FOR STATE HEALTH BENEFITS.

WE KNOW PREMIUMS WENT UP, THIS WOULD BE FOR THE FOLLOWING YEAR.

SO WE DID HEAR OTHER POINTS.

I WANT TO BRING UP CORPORATE BUSINESS TAX SURCHARGE.

HE DID SAY, HE PUT BUSINESSES UNNOTICED.

IN TERMS OF WHAT THAT COSTS NEW JERSEY, IN FISCAL YEAR 2024 WILL COST THREE AND 20 MILLION, IN FISCAL YEAR 2025 BILLION IN REVENUE.

>> COLLEEN, EDUCATION OFTEN EATS UP A BIG CHUNK OF THE BRIDGET -- BUDGET.

>> RIGHT, THERE'S 832 MILLION MORE FOR K-12 PUBLIC SCHOOL.

FORMULA E, NOW THAT IS WHAT REALLY HELPS A LOT OF DISTRICTS TO NOT RAISE TAXES.

WE HAVE ALREADY HEARD REACTION FROM REPUBLICANS WHO ARE SAYING YEAH SURE, BUT THERE WILL BE A LOT OF DISTRICTS THAT WIND UP GETTING CUT BECAUSE THIS FORMULA IS SUCH THAT IT TAKES INTO ACCOUNT WHETHER YOUR ENROLLMENT IS INCREASING OR NOT.

SO NOT EVERYBODY IS GOING TO BENEFIT FROM THAT.

THERE IS ALSO 109 MILLION MORE FOR PRESCHOOL ENROLLMENT, SOME OF THAT MONEY USED FOR EXPANDING PRESCHOOLS.

SO IF YOU ARE LUCKY ENOUGH TO LIVE IN ONE OF THESE COMMUNITIES, YOU MIGHT NOT HAVE TO PAY TO SEND THEM TO A PRESCHOOL OR DAYCARE PROGRAM.

THEN THERE IS ANOTHER $134 MILLION TO ACCESS HIGHER EDUCATION, WHICH GO TO THE MOST NEEDY.

AS WELL AS RAISING THE INCOME CAP.

AND THEN A FOUR YEAR TRANSITION.

WHICH IS SOMETHING, IT SEEMS LIKE IT'S A PRETTY GOOD AMOUNT.

>> WITH THIS, STAY WITH ME FOR JUST A MINUTE.

WILL THE LOSS OF THAT REVENUE OFFSET SOME OF THESE SPENDING PRIORITIES?

YOU HEARD RHONDA MENTION PRELIMINARY NUMBERS FOR WHAT THE STATE STANDS TO LOSE.

A LITTLE OVER 300 MILLION THE FIRST YEAR, A BIG LEAP IN THE NEXT.

I WOULD THINK SOME OF THESE PROGRAMS WOULD TAKE A HIT.

>> IT IS A SOURCE OF REVENUE, SO THE MONEY THAT COMES IN FROM INCOME TAX IS RESTRICTED TO CERTAIN PURPOSES CONSTITUTIONALLY LIKE FUNDING EDUCATION AND DIRECT PROPERTY TAX RELIEF.

ANYTIME YOU CUT INTO THAT GENERAL REVENUE STREAM WHICH IS ALSO DEDICATED TO FUNDING SOME OF THE STATE ENVIRONMENTAL PROJECTS, YOU MENTIONED THAT CLIMATE CHANGE BECOMES A FOOTNOTE IN SOME PART IN THIS.

AND THAT IS REALLY SOMETHING PROFOUND THAT NEW JERSEY IS COMING TO TERMS WITH, THE IMPACT OF CLIMATE CHANGE ON OUR WATERSHED.

THE WAY THAT -- THIS IS ALL SOMETHING TO KEEP IN MIND AS WE DO SEE THAT SURCHARGE WIND DOWN.

>> THANK YOU ALL.

THIS IS AN ELECTION YEAR BUDGET SPEECH NOT FOR GOVERNOR MURPHY BUT ALL 120 MEMBERS OF THE LEGISLATURE ARE ON THE BALLOT.

AND THERE WERE A NUMBER OF ITEMS IN THE SPEECH THAT PLAYED TO DEMOCRAT INTERESTS.

REPUBLICANS, THOUGH, HAS BEEN RAILING AGAINST THIS ADMINISTRATION FOR A BUDGET THAT IS 5% LARGER THAN LAST YEAR'S RECORD HIGH SPENDING PLAN.

SENIOR POLITICAL CORRESPONDENT DAVID CRUISE IS A STANDING BY AT THE STATEHOUSE WITH MORE REACTION FROM THE GOP.

>> THAT'S RIGHT, THIS IS AN ELECTION YEAR BUDGET.

WE WERE TALKING EARLIER, WHOSE BUDGET IS THIS GOING TO BE?

IS IT THE ADMINISTRATION OR IS IT GOING TO BE THE BUDGET OF THE DEMOCRATIC MAJORITY?

THE GOVERNOR SAID IT SEVERAL TIMES DURING HIS SPEECH TODAY, WE DID THIS TOGETHER.

SO THE ANSWER, I GUESS, IS THAT IT'S THEIR BUDGET.

REPUBLICANS, ON THE OTHER HAND, THOUGHT IT WAS FULL OF BLOAT AND IRRESPONSIBLE.

WE TALKED TO SENATE BUDGET OFFICER, LET'S HEAR OF ABOUT THAT.

>> THE GOVERNOR SAYS 18 TAX CUTS, THE MOST IN THE HISTORY OF NEW JERSEY.

>> LOOK, IF YOU OFFSET THESE OPPOSING TAX CUTS WITH THE TAX INCREASES THAT ARE STILL HAPPENING, THIS IS VERY LITTLE TAX RELIEF UNDER THIS ADMINISTRATION.

YOU DON'T GET CREDIT FOR CUTTING A TAX YOU RAISED FOR THE CORPORATE BUSINESS TAX.

IT DOESN'T WORK THAT WAY.

JUST LIKE THE PRESIDENT DOESN'T GET CREDIT FOR CUTTING GAS PRICES IF HE IS RESPONSIBLE FOR THEM INCREASING.

NOT HOW IT WORKS.

THERE ARE TAX INCREASES IN THIS BUDGET A SIGNIFICANT ONES.

CLOSE TO $1 BILLION.

JUST BY VIRTUE OF PEOPLE GETTING SALARY INCREASES, THEY WILL PAY HIGHER TAXES.

THEY ARE PAYING HIGHER TAXES AND NOT ABLE TO KEEP UP WITH INFLATION.

THAT'S A HALF BILLION DOLLARS RIGHT THERE.

THERE IS ALSO ANOTHER INCREASE IN TAXES ON WORKERS.

THAT WE COULD HAVE PLENTY OF TAX INCREASE.

>> THERE IS A $10 BILLION SURPLUS.

DOESN'T THAT SHOW SOME FISCAL RESPONSIBILITY?

>> IF YOU LOOK AT THE SURPLUS IN OTHER STATES, WITH THE INFUSION OF FEDERAL MONEY, WITH THE REBOUND AFTER THE PANDEMIC, THE AVERAGE SURPLUS IS LIKE 25%.

SO ON THE LOW END.

HERE'S THE THING, WHAT DO YOU DO WITH THAT, WHERE DO YOU INVEST THAT, HOW MUCH OF THAT MONEY?

YOU NEED A CUSHION FOR A DOWNTURN.

THE AVERAGE SHOULD BE ABOUT 10%.

THIS IS 20% OF OUR BUDGET.

THAT IS MORE MONEY THE GOVERNMENT SHOULD HAVE, TO EFFECTIVELY GIVE BACK A SUBSTANTIAL PORTION OF THAT.

REPUBLICANS HAVE A PLAN TO DO THAT.

$1 BILLION MORE THAN THE GOVERNOR.

THE ANCHOR PROGRAM WILL GIVE BACK ONE HAVE BEEN --1.5 BILLION, THE REPUBLICAN PLAN WOULD HAVE GIVEN THEM 4 BILLION LAST YEAR.

BY SITTING ON THIS MONEY, WHATEVER IS GIVEN BACK IS WORTH 10% LESS NOW BECAUSE OF INFLATION.

>> TELL ME WHAT YOU THOUGHT ABOUT THE TONE OF THIS?

>> THE GOVERNOR IS ALWAYS UPBEAT AND I LIKE THE TONE.

I AM GETTING SOME SIGNS THAT THEY ARE WILLING TO WORK WITH US.

I AM ENCOURAGED BY THAT.

THERE'S A LOT OF WORK TO DO.

>> TOO MUCH FAT IN THE BUDGET, TAXES ARE TOO HIGH AND EVEN THE SURPLUS IS TOO HIGH.

SO THAT IS GOING TO BE THE FRAMING OF THIS DEBATE AS WE GO FORWARD.

WE WILL SEE SOME NUMBERS IN APRIL AND THINGS BEGIN TO TESTIFY.

-- INTENSIFY.

>> THANK YOU, DAVID.

WE WILL CONTINUE OUR BUDGET COVERAGE ONLINE WITH MORE IN-DEPTH REPORTING AND ANALYSIS.

JUST HAD TO NJ SPOTLIGHT NEWS.ORG OR CHECK OUT OUR SOCIAL CHANNELS.

AND MAKE SURE TO TUNE IN TOMORROW NIGHT, I WILL HAVE A ONE-ON-ONE WITH GOVERNOR MURPHY TO TALK ABOUT HIS PROPOSED BUDGET AND HOW HE PLANS TO GET THE LEGISLATURE TO AGREE.

>>> THE 8000 FACULTY MEMBERS AT RUTGERS UNIVERSITY ARE ON THE VERGE OF A HISTORIC STRAIGHT.

THE UNIONS REPRESENTING TENURED PROFESSORS, ADJUNCT AND GRADUATE STUDENT INSTRUCTORS BEGAN A 10 DAY LONG VOTE ON WHETHER OR NOT TO AUTHORIZE THE STRIKE AS CONTRACT NEGOTIATIONS REMAIN STALLED.

IT COULD BE THE FIRST EVER WALKOUT BY PROFESSORS IN SCHOOL HISTORY.

BRENDA FLANAGAN WAS IN NEWARK AM AWARE UNION MEMBERS RALLIED OUTSIDE THE BOARD OF GOVERNORS MEETING.

>> WHAT WE WANT?

>> CONTRACTS.

>> RUTGERS FACULTY AND STAFF RALLIED AT THE NEWARK CAMPUS TO FIRE UP UNION SUPPORT FOR A STRIKE AUTHORIZATION VOTE.

AFTER WORKING SINCE LAST JUNE WITHOUT CONTRACT, 7500 FULL AND PART-TIME PROFESSORS AND GRADUATE STUDENTS AND ADJUNCT INSTRUCTORS COULD HIT NEW JERSEY STATE UNIVERSITY WITH THE FIRST STRIKE IN ITS 255 YEAR HISTORY.

>> WE ARE TIRED, WE ARE FED UP WITH THE EXCUSES.

AND WE WILL WIN.

>> THIS FIGHT IS GOING TO GO ON AND ON.

I WILL BE PREPARED TO MAKE A STATEMENT.

AND IF WE DON'T GET IT, WE WHAT?

>> STRIKE.

>> SPEAKERS LIKE CHRIS SMALLS WHO ORGANIZED THE FIRST AMAZON UNION ON STATEN ISLAND RALLIED THE CROWD.

LEADERS FOR THE TWO UNIONS AND THE RUTGERS ADJUNCT FACULTY SAY NEGOTIATIONS WITH ADMINISTRATORS HAVE INSTALLED.

>> WE HAVE DEMANDS WE THINK MAKE THIS BETTER FOR EVERYONE THAT FIT THE PRESIDENT'S IDEA OF A BELOVED COMMUNITY AND REALLY MAKE US A FAIR PLACE FOR EVERYBODY IN THE COMMUNITY.

AND THE UNIVERSITY HAS RESPONDED BY REJECTING ALL OF OUR DEMANDS.

>> CONTRACT DEMANDS INCLUDE SALARY INCREASE OF 20% OVER FOUR YEARS FOR FULL-TIME PROFESSORS, AND IMMEDIATE 93% RAISED TO 37,000 A YEAR FOR GRADUATE WORKERS.

AND EQUAL PAY FOR EQUAL WORK BY PART-TIME ADJUNCT PROFESSORS.

PLUS, HEALTH BENEFITS, A TWO-YEAR MINIMUM APPOINTMENT TO START AND PAST THE TENURE.

>> A LOT OF US ARE LOOKING FOR FULL-TIME WORK AND WE WOULD LOVE TO TEACH AT RUTGERS.

WE LOVE IT HERE, WE LOVE OUR STUDENTS.

BUT THEY FIND IT IS MUCH CHEAPER TO EMPLOY US PIECEMEAL.

>> THE FOOTBALL COACH IS $32 MILLION OVER EIGHT YEARS AS A SIGN OF MISPLACED PRIORITIES.

>> WHY IS THE UNIVERSITY SPENDING MILLIONS OF DOLLARS ON ADMINISTERED OF COSTS AND ATHLETICS?

THROWING AWAY MILLIONS OF DOLLARS.

FOR AN AWFUL FOOTBALL TEAM.

>> WE ARE VERY INVOLVED, I PROMISE.

ON BOTH THE UNION SIDE, RUTGERS SIDE, I HOPE IT IS SOONER THAN LATER THAT THEY FIND RESOLUTION AND GET THIS TO A PLACE IT SHOULD BE.

>> RUTGERS AND MINISTRATION CONTAINS TWO HOLDOVERS FROM THE REPUBLICAN CHRIS THE ADMINISTRATION.

JOHN HOFFMAN AND DAVID CULLEN, VIEWED AS ANTI-LABOR.

A RUTGERS SPOKESWOMAN SAYS IT HAS FULL CONFIDENCE IN OUR NEGOTIATING, WHICH FAITHFULLY REPRESENTS THE POSITION OF THE UNIVERSITY AND THAT ADMINISTRATORS WILL CONTINUE TO MEET IN GOOD FAITH UNTIL WE REACH COMPREHENSIVENESS AGREEMENTS ON MANDATORY NEGOTIABLE ISSUES INCLUDING COMPENSATION AS QUICKLY AS POSSIBLE.

>> IT'S TIME TO BARGAIN FAIR CONTRACTS.

OUR MEMBERS ARE SAYING WE DON'T WANT TO GO ON STRIKE.

BUT IF WE HAVE TO, WE WILL.

>> VOTING WILL LAST FOR 10 DAYS, IT TAKES A SIMPLE MAJORITY TO AUTHORIZE A STRIKE AND UNION OFFICIALS EXPECT OVERWHELMING SUPPORT.

IN NEWARK, BRENDA FLANAGAN.

NJ SPOTLIGHT NEWS.

>>> IN OUR SPOTLIGHT ON BUSINESS REPORT, SKEPTICISM FROM THE U.S. SUPREME COURT AS ORAL ARGUMENTS UNDERWAY OVER TWO CHALLENGES TO PRESIDENT BIDEN'S PLAN TO FORGIVE STUDENT LOAN DEBT FOR TENS OF MILLIONS OF AMERICANS.

MORE THAN 1 MILLION BORROWERS IN NEW JERSEY HAVE ALREADY APPLIED.

SENIOR CORRESPONDENT JOANNA GAGIS REPORTS EMMA THEIR LOAN FORGIVENESS REMAINS IN LIMBO.

>> Reporter: DID THE U.S. SECRETARY OF EDUCATION HAVE THE RIGHT TO IMPLEMENT A STUDENT LOAN DEBT FORGIVENESS PROGRAM?

THAT QUESTION WAS ARGUED IN FRONT OF THE SUPREME COURT TODAY AFTER A NUMBER OF REPUBLICAN STATES BROUGHT SUIT AGAINST THE PROGRAM.

>> IS A CREATION OF A BRAND-NEW PROGRAM THAT GOES FAR BEYOND WHAT CONGRESS INTENDED.

>> FUNGUS DIRECTED THE SECRETARY HAS THE AUTHORITY TO WAIVE OR MODIFY TO EXPAND ELIGIBILITY.

WE ASK THE COURT TO REJECT THE STATE ARGUMENT.

>> THE ARGUMENTS AGAINST THE BIDEN ADMINISTRATION DEBT RELIEF PROGRAM FROM STATES SAYING THEY WILL FACE PHYSICAL HARM WHEN OPERATORS LEAN -- LOSE THEIR OPERATING BUDGETS.

BUT ADVOCATES SAY IT IS A CRITICAL STEP IN HELPING FOLKS RECOVER.

>> I THINK 10 TO 20,000 OF CANCELLATION WOULD BE A TREMENDOUS BENEFIT TO THE STUDENT LOAN BORROWERS.

I THINK WE NEED TO LOOK AT WHAT IT REALLY MEANS TO SUPPORT STUDENTS AND REPAIR THE ECONOMY AS WE COME OUT OF THE COVID CRISIS.

>> WHEN APPLIED TO SINGLE BORROWERS EARNING LESS THAN 125,000 A YEAR AND MARRIED COUPLES WHO MAKE LESS THAN 250,000.

UP TO $20,000 COULD BE FORGIVEN FOR PEOPLE LIKE PATRICIA JOSEPH, WHO HAD TO STOP WORKING DURING THE PANDEMIC TO CARE FOR HER DAUGHTER WHEN SCHOOL WAS CLOSED.

SHE HAS SINCE FACED MEDICAL ISSUES AND CAN'T AFFORD HER STUDENT LOAN PAYMENTS.

>> THIS FORBEARANCE WE ARE SEEKING IS SOMETHING THAT IS DESPERATELY NEEDED.

ESPECIALLY FOR THE LOW INCOME HOUSEHOLDS.

THE ARE DEALING WITH SIGNIFICANT EFFECTS OF COVID AND STILL NOT RECOVERING.

>> SOME OF THE CONSERVATIVE JUST TO KISS -- JUSTICES INDICATED THEY WERE REVIEWING THE MERITS.

>> THAT RAISES SIMILAR CONCERNS ABOUT INDIVIDUAL LIBERTY.

>> FRANKLY, WE ARE STILL IN AN EMERGENCY.

AS WE EMERGE FROM THE COVID CRISIS, WE ALL KNOW THAT MANY DIFFERENT SYSTEMIC PROBLEMS WERE REVEALED TO BE MUCH DEEPER THAN WE ALL KNEW.

AND THE STUDENT DEBT CRISIS IS ONE OF THOSE.

>> Reporter: IN THE END, THE DECISION MAY NOT BE BASED ON MERIT AT ALL BUT HOW MUCH AUTHORITY WAS GRANTED TO THE EXECUTIVE BRANCH IN A BILL CALLED THE HEROES ACT IN 2003.

>> THE TRADITIONAL WAY TO APPROACH IT IS THAT IT'S NOT WHAT THEY THINK THE ECONOMIC IMPACT WILL BE OR SHOULD BE.

DID CONGRESS DELEGATE THAT JUDGMENT AND THAT DETERMINATION TO THE APPROPRIATE AGENCY OR OFFICIAL IN THE EXECUTIVE BRANCH?

SUCH AS IN THIS CASE, SECRETARY OF EDUCATION.

>> THE STATES SAY IT EXCEEDS THE BOUNDS OF EXECUTIVE AUTHORITY.

BUT THE WHOLE CASE COULD GET THROWN OUT ON JUDICIAL TERMS CALLED STANDING.

>> STANDING IS TRADITIONALLY A DOCTRINE USED BY CONSERVATIVES TO EXERCISE JUDICIAL RESTRAINT THAT MIGHT APPEAL TO THEM.

WE SHOULDN'T BE HEARING THIS CASE, THE LOWER COURTS SHOULDN'T HAVE HEARD THIS CASE.

THE STATE OF MISSOURI AND NEBRASKA, ALL THOSE STATES.

THEY WILL NOT BE AFFECTED BY THIS ONE WAY OR THE OTHER.

AND THAT IS USUALLY A BEDROCK REQUIREMENT.

THAT THE PARTIES BEFORE THE COURT HAVE SOME PERSONAL STAKE IN THE OUTCOME.

>> THE SUPREME COURT JUSTICES WILL DECIDE BY JUNE.

>> LET'S TAKE A LOOK AT WALL STREET NOW, AND TODAY'S CODING -- CLOSING TRADING NUMBERS.

>> SUPPORT FOR THE BUSINESS REPORT PROVIDED BY THE NEW JERSEY CHAMBER OF COMMERCE.

I DON'T THINK IT'S NEW JERSEY BUSINESS SUMMIT AND EXPO.

MARCH 14th AND 15th IN ATLANTIC CITY.

EVENT DETAILS ONLINE AT NJ CHAMBER.COM.

>> THAT'S OUR SHOW TONIGHT.

BUT YOU CAN NOW LISTEN TO NJ SPOTLIGHT NEWS ANYTIME ANYWHERE VIA PODCAST.

MAKE SURE TO DOWNLOAD IT AND CHECK US OUT.

YOU CAN ALSO FOLLOW US ON OUR SOCIAL PLATFORMS ALONG WITH NJ SPOTLIGHT NEWS.ORG TO KEEP UP WITH ALL THE LATEST NEWS.

FOR THE ENTIRE TEAM, THANK YOU FOR BEING WITH US.

HAVE A GREAT EVENING, SEE YOU BACK HERE TOMORROW.

>> THE MEMBERS OF THE NEW JERSEY EDUCATION ASSOCIATION.

MAKING PUBLIC SCHOOLS GREAT FOR EVERYONE.

RWJBARNABAS HEALTH.

LET'S BE HEALTHY TOGETHER.

AND ORSTED.

OMITTED TO THE CREATION OF A NEW, LONG-TERM, SUSTAINABLE CLEAN ENERGY FUTURE FOR NEW JERSEY.

>> LOOK AT THESE KIDS.

WHAT DO YOU SEE?

I SEE MYSELF.

I BECAME AN ESL TEACHER TO GIVE MY STUDENTS WHAT I WANTED WHEN I CAME TO THIS COUNTRY.

THE OPPORTUNITY TO LEARN, TO DREAM, TO ACHIEVE, A CHANCE TO BELONG AND TO BE AN AMERICAN.

MY NAME IS JULIA, I AM PROUD TO BE AN NJ EA MEMBER.