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The Bond Market Loves New Jersey. Yes, New Jersey.

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Now New Jersey is one of only seven states with an improving economy over the last 3 1/2 years, measured by employment, personal income, home prices, tax receipts, mortgage delinquencies and the equity of their companies. It’s the only one of those seven with perennial leadership in public education and health care.

The 11th-most-populated state appears likely to re-elect the new governor, 63-year-old Phil Murphy, who’d then become the first Democrat in 44 years to win a second term. Murphy stands out as the only U.S. governor who promised and delivered higher minimum wages, a tax on millionaires, paid sick leave, college financial aid, free community college tuition, stricter gun laws, legalized recreational marijuana and the first full payment to New Jersey’s pension system in 25 years.  

Read the full article here, originally published by Bloomberg on July 19, 2021.