The 2027 budget measure passed by the state Senate and Assembly and signed by Gov. Mikie Sherrill calls for a record $60.74 billion in spending. The budget fully funds the state’s pension schemes, increases education funding and preserves property tax relief programs. Under the Stay NJ program, the income level for eligibility was reduced from $500,000 to $200,000 and a means test was added to establish tiers of maximum benefit payments based on income. The census says that 19% of Cape May County households make more than $200,000, the bar for program eligibility.