But it's not certain the state Assembly will go along.
Senate President Stephen Sweeney says the Senate will approve a plan later this week that caps spending and property tax increases at 2 percent. It's the compromise he and Republican Gov. Chris Christie announced Saturday.
Assembly Speaker Sheila Oliver wants to meet with Democrats in the Assembly on Wednesday before announcing a position on the new proposal.
The Assembly and Senate passed a 2.9 percent cap last month, but Christie mocked that plan for its many exemptions and said he wouldn't sign it.
