Christie Proposes $29.4 Billion Budget

In Tues. remarks, NJ Guv offers $500 million contribution to state pension system if legislature passes reform plan by March.

And: Fiscal plan includes $250 million increase to school aid.

Highlights from Christie's remarks:

Last year's education cuts were necessary "shared sacrifices."

"We cannot have tax cuts that we do not pay for."

"The time to fix our schools is now."

There will be "sacrifice" and "political difficulty... Not everyone can have everything that they want."