So Money with Farnoosh Torabi · Wednesday, August 5, 2026
Farnoosh Torabi discusses a special election in Montclair, New Jersey, where a $20 million school budget deficit led to a split vote, even in a highly progressive town. Many 'no' voters expressed a desire for assurance that funds would be used properly before agreeing to a tax increase.
“So a little context. Here in Montclair, New Jersey where I live, we recently had a special election. The question on the ballot was, how do we pay back a $20 million school budget deficit? $20 million.”
“It wasn't anti-tax as much as much as it was prove to me you're going to do the right thing with this money and that this won't happen again.”