Jersey City says it desperately needs $150M in state aid. That would obliterate records.

"Jersey City's new mayor, James Solomon, blamed his three-term predecessor Steve Fulop - who currently helms the Partnership for New York City - and said Fulop relied on accounting tricks and one-time revenue sources for years. The gap amounts to 28% of the city's $922 million budget."

"In public meetings, the Solomon administration has compared it to historic budget deficits in other cities, like Detroit, which became the largest city in U.S. history to file for bankruptcy in 2013, and Atlantic City, which was hobbled by multiple casino closures in 2015 and ultimately put under a state takeover that is still ongoing."

"Jersey City's requested $150 million - which would likely come through the Department of Community Affairs Transitional Aid program - would be the largest such award that program has ever funded, far surpassing the previous record of $69 million to Camden in 2010."

Jersey City faces a $255 million budget deficit representing 28% of its $922 million annual budget, prompting Mayor James Solomon to request a record $150 million in state aid from Governor Mikie Sherrill. Solomon attributes the crisis to his predecessor's reliance on accounting tricks and one-time revenue sources. The city is implementing austerity measures including scrapping the Pompidou art museum project, reducing the mayor's salary to $1, and conducting audits to identify savings. Despite potential state assistance, property taxes will likely increase in a city that has already seen a 45% rise over five years. The requested aid would exceed the previous record of $69 million awarded to Camden in 2010, straining state resources as the governor addresses her own $3 billion shortfall.

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