Jersey City is in the midst of a financial crisis. New Jersey’s second-largest city is seeking a staggering $150 million in state aid to help cover a massive $254 million budget shortfall—a gap equaling 28% of the city’s entire operating budget.
The request puts Governor Mikie Sherrill in a difficult spot. At the same time, she’s managing a $3 billion state budget deficit—attempting to avoid fiscal collapse.
The Scale of the Problem
Jersey City’s budget gap is historic.
City officials have compared it to the financial crises that crippled Detroit before its 2013 bankruptcy. And, more locally, Atlantic City following casino closures in 2015. The shortfall is larger than the budgets of Jersey City’s police and fire departments combined…