followed up by announcing that his own budget would be put forth the next day, including some similar business tax incentives which would be structured within the context of a balanced budget. In late June 2011, Christie utilized New Jersey's line item veto to eliminate nearly US$1 billion from the proposed budget, signing it into law just hours prior to the July 1, 2011, beginning of the state's fiscal year. February budget address Governor Christie scheduled a budget address to the State Legislature and his constituents on February 22, 2011. Throughout the months prior to the address, Christie had been making his case for cutting business taxes, giving property tax relief to residents, overhauling funding of the State pension system, changing school aid, and possibly cutting State Medicaid benefits. News analysis of the events predicted that this would be the beginning of a partisan political battle between the Governor's office and the Democrat led State Assembly, which was born out prior to the address by Senate President Stephen Sweeney who was quoted as saying "We've heard nothing from the administration. This is not a good start". Democratic Chairman John Wisniewski announced, as part of the budget address coverage, US$250 million in funding towards education programs as part of Christie's promise to revamp public school spending in the state. New Jersey had spent around US$10 billion a year on education in previous administrations, but the Christie administration had cut funding in the 2010 budget which prompted lawsuits being heard by the New Jersey Supreme Court. Senate republicans were reported to be advocating for increased funding to suburban districts in the state. State pension funding Governor Christie was expected to budget US$500 million to the New Jersey pension fund in the 2011 budget. The Christie administration did not budget any of the US$3 billion in funding to the pension plan in the 2010 state budget, and budgeted an amount of $500 million in 2011. 2013 New Jersey budget In June 2013, Christie signed a $33 billion state budget that made a record $1.7 billion payment to the state's pension fund and also increased school funding by almost $100 million. He agreed to expand the state's Medicaid program, with more costs covered by the federal government under the Affordable Care Act. Credit rating downgrades Under Christie New Jersey's credit rating has been downgraded the most of any New Jersey governor. As of September