It has been weeks since a highly punitive business tax increase on the state’s largest companies was proposed in the fiscal 2025 state budget. This essentially replaces the temporary 2.5% CBT surcharge that expired at the end of 2023, and repackages it as a Corporate Transit Fee. This tax hike would affect New Jersey’s largest job creators, tax revenue producers and philanthropic givers — in a very bad way, as would the “Buck a Truck” proposal, which is an unnecessary nuisance tax on the state’s burgeoning logistics industry. Moreover, the proposals would hurt the progress New Jersey has been making as a desirable location to run a business. Now the ball is in the state Legislature’s court. We have not yet heard where legislative leaders stand. But, we are strongly encouraging them to vote against this tax hike.
Below is suggested language to send to your legislator to tell them that the proposals hurt New Jersey's economic momentum.
Instructions
Please read all steps before visiting the New Jersey Legislature's in step 2.
- Click here to copy the suggested language for your message.
- Visit the New Jersey Legislature's website
- Choose your District by selecting your Municipality from the Filter by Municipality drop down
- Click on email icon next to your legislator’s name
- Select the checkbox next to all legislators you want to contact
- Fill out required fields. Paste the suggested language copied in step 1 into the Message field
- Click the Send Email button
Suggested Message Language
Use the button below to copy the suggested message and then paste it into your email.
I urge you to oppose fiscal 2025 state budget proposals that will hurt the progress New Jersey has been making as a desirable location to run a business, specifically the Corporate Transit Fee (CTF) and Buck-a-Truck items. The CTF tax hike would affect New Jersey’s largest job creators, tax revenue producers and philanthropic givers — in a very bad way, as would the Buck a Truck proposal, which is an unnecessary nuisance tax on the state’s burgeoning logistics industry.
Our employers were promised that the 2.5% CBT surcharge was going away, and, instead, it comes back under this plan, retroactive to Jan. 1, with a different name and in a slightly different form. This tax hike is the antithesis of what our state’s economy needs. New Jersey’s employers need predictability in order to operate — and this proposal throws a wrench into their planning. Our largest employers, under the CTF, would be saddled with the nation’s highest business taxes, making New Jersey the only state with a double-digit CBT.
Opposition to the CTF supports one of New Jersey’s most precious assets – our businesses that employ tens of thousands of residents. Do not sacrifice our economic future by approving an ill-timed and completely inappropriate tax whose use would not solve NJ Transit’s fiscal dilemma.
I am also opposed to the proposed cuts to state agencies — NJEDA, NJBAC and NJSBDCs — that support economic growth efforts, and I ask that the funding to be reinstated.
Please vote in opposition to these proposals in order to keep the state’s economic momentum moving in the positive direction. Let’s work towards a budget that fosters growth and prosperity for New Jersey.
Suggested Subject Line
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