Even though he has some concerns about it, Governor Christie says he’ll consider a school funding agreement hammered out by Democratic leaders in New Jersey's legislature.
The plan would provide an additional $100 million in the state budget for underfunded school districts and reallocate $46 million in so-called adjustment aid to districts with increasing student enrollment.
Assembly Speaker Vinnie Prieto says it’s a good compromise.
“It helps districts that were in dire needs of additional funding this fiscal year. We minimized the amount that are taken from some districts that hopefully will be able to live with that.”
Senate President Steve Sweeney believes the state can fully fund schools, but the process could take five to seven years.
"This is step one. Then next year, January, when the new governor is sworn in, the day the new governor is sworn in, we will put up a millionaires' tax. It will generate a minimum of $600 million."
Sweeney says the legislature won’t act on a budget bill until Christie decides what he’ll do about the education funding plan.
The state constitution requires a new budget to be enacted by the end of the month.