New Jersey Governor Reports $3.4 Million Income in Latest Disclosure

Trenton, New Jersey — Governor Phil Murphy and First Lady Tammy Murphy reported an income of $3.4 million for the previous year, an increase of approximately $2 million compared to 2024. The figures were disclosed by the governor’s office on Wednesday.

The Murphys, who file their tax returns jointly, also paid about $1.3 million in state and federal taxes, according to the financial documents. This substantial increase in income is part of a trend observed as the couple continues to navigate their public and private financial responsibilities.

Phil Murphy, a Democrat, has been in office since January 2018 and is set to face competition in the upcoming gubernatorial election this fall. His current term is limited, and voters will decide who will take over the state’s leadership.

The governor is expected to face off against either Republican Jack Ciattarelli or Democrat Mikie Sherrill, with polls indicating a competitive race. This election will emphasize key policy differences between the candidates and is viewed as crucial for the future political landscape of New Jersey.

As campaign season heats up, the relationship between personal wealth disclosure and public office is under scrutiny, highlighting the intricacies of campaign funding, tax responsibilities, and the impact of political contributions.

In related developments, New Jersey’s 2025 elections are generating significant public interest, with ongoing debates about policies that could affect the state’s residents over the next four years. The outcome of this election could significantly influence the state’s direction and priorities.