Mayor Of NJ's Second Biggest City To Take $1 Salary After Finding $250 Million Deficit

JERSEY CITY, NJ — Jersey City Mayor James Solomon said Thursday that he'll take a salary of $1 after discovering that the city has a $250 million budget deficit, representing more than a quarter of annual spending. READ MORE: Jersey City Mayor Uncovers $250M Budget Gap

Solomon blamed the previous administration of Mayor Steve Fulop for the gap. On Wednesday, the new mayor released a report highlighting spending and budgeting issues — including paying consultants $20 million for a museum that never came to fruition.

"Yesterday, we delivered a report on the state of our city's finances," said Solomon, who took office on Jan. 15. "We have tough decisions ahead, and I believe in leading by example ... I didn't run for mayor for personal gain. I ran because I love this city and the people who make it work. And when times are tough, we lead from the front."

Fulop's salary climbed to $245,000 during his tenure, a spokesperson for Solomon noted.

The new mayor has already taken steps to address the crisis, including switching the city's health insurance administrator, Styer said. This change is projected to save approximately $30 million in 2026, the city said.

A team of independent budget experts has been assembled to develop a four-year financial recovery plan for Jersey City.

Read more about the budget situation here: Jersey City Mayor Uncovers $250M Budget Gap