New Jersey Governor, Lawmakers Reach Budget Deal, Avoid Shutdown

New Jersey Gov. Phil Murphy and state lawmakers reached a budget deal hours before their midnight deadline, averting a government with an agreement that will raise taxes on the state’s multimillionaires and businesses.

Saturday’s deal marks the end of a standoff between Mr. Murphy, a Democrat who took office in January, and lawmakers from his own party over how to fund the state budget for the next fiscal year, which begins Sunday. The legislature is scheduled to vote on the $37.4 billion budget Sunday morning, but…

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