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(TRENTON) — Credit rating agency Moody’s today upgraded its rating on New Jersey’s general obligation bonds to Aa3 from A1, revising the outlook from positive to stable, citing financial reserves that will help the State weather economic uncertainty, along with its growing tax revenue and the Administration’s commitment to fully funding the pension system. This is the State’s ninth credit rating upgrade since Governor Murphy took office.

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(TRENTON) — The Department of the Treasury reported that August revenue collections for the major taxes totaled $2.811 billion, up $177.8 million, or 6.8 percent above last year. More than half of this month’s growth was attributable to the Gross Income Tax (GIT), while the Sales and Use Tax (SUT) and Casino Revenues also posted gains. Year-to-date, total revenue collections of $3.333 billion are up $43.3 million, or 1.3 percent above the same period last fiscal year.

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(TRENTON) — This week, The New Jersey Department of the Treasury’s Division of Taxation began mailing ANCHOR property tax relief confirmation letters to about 1 million residents. The letters confirm eligibility and outline benefit details for this year’s program.

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(TRENTON) — The Department of the Treasury reported today that July revenue collections for the major taxes totaled $3.326 billion, an increase of $88.7 million, or 2.7 percent above last year. The revenue increase was led by higher net collections from the Gross Income Tax (GIT). Total major revenues of $50.179 billion for the 13-month period ending in July were up by $2.839 billion, or 6.0 percent above the same period last year, in line with current expectations.

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(TRENTON) — S&P Global Ratings today upgraded its rating on New Jersey’s general obligation bonds to A+ from A, citing the Murphy Administration’s work to increase its surplus and reduce long-term liabilities. This is the State’s eighth credit rating upgrade since Governor Murphy took office.

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