Corporate Transit Fee Ball Is Now in Legislature’s Court

April 16, 2024

It has been over six weeks since Gov. Phil Murphy proposed a highly punitive business tax increase on the state’s largest companies in his fiscal 2025 state budget. Essentially, he is saying New Jersey should replace the temporary 2.5% Corporate Business Tax surcharge that expired at the end of 2023, and repackage 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.

N.J. Chamber President to Assembly Budget Committee: Proposed Corporate Transit Fee – a Tax Hike on Large Employers – is ‘Punitive and Egregious’

March 11, 2024

By Scott Goldstein, Communications Manager, N.J. Chamber of Commerce

New Jersey Chamber of Commerce President and CEO Tom Bracken, delivering testimony this morning in front of the Assembly Budget Committee, said the proposed $56 billion state budget would inflict damage on New Jersey’s economy and its reputation as an improving destination to run a business. Bracken primarily took aim at what he called a “punitive and egregious” 2.5% Corporation Business Tax hike on the state’s biggest employers.

NJ Chamber Gets Behind Reauthorization of Transportation Trust Fund To Keep State’s Highways and Bridges Safe and Efficient

March 07, 2024

A plan to raise the state’s per-gallon gas tax by 1.9 cents per year over five years to fund the state highways, roads, bridges and other infrastructure projects has garnered the approval of the New Jersey Chamber of Commerce.

Statement on Fiscal 2025 State Budget

February 27, 2024

I hope this is a nightmare that isn’t true.

We have been preaching that New Jersey needs to become more affordable, more business friendly and more competitive. Now we are shocked that there is talk of reinstituting higher taxes on businesses less than three months after the 2.5% Corporation Business Tax (CBT) surcharge expired.

Statement on 2026 World Cup Final in NJ

February 05, 2024

The New Jersey Chamber of Commerce enthusiastically congratulates Gov. Phil Murphy, New York City Mayor Eric Adams and the entire New Jersey and New York team involved in bringing the FIFA World Cup 26™ Final to MetLife Stadium on July 19, 2026.

This is a once-in-a-lifetime opportunity to showcase the assets and capabilities of our state. New Jersey has hosted the Super Bowl, NCAA Tournament games, WrestleMania – and this will be the biggest event of them all, projected to bring more than 1 million visitors to our doorstep. The New Jersey and New York metropolitan area is one of the biggest and most diverse regions in the world, and we are a perfect host for the world’s biggest game.

NJ Chamber Statement on State Disparity Study

January 23, 2024

The disparity study recognizes the need for immediate action in order for there to be more equity in government contracting for Minority and Women-Owned (MWBE) businesses. The imbalances outlined have long been articulated by those affected – and is the focus of one of the Chamber’s economic priorities that calls for equal opportunities for MWBEs when it comes to securing not only public but also private sector contracts. Increasing supplier diversity spending with MWBEs has economic and social benefits for all by enhancing competition, encouraging innovation, increasing job creation and supporting communities. Now it is time to move forward and have constructive dialogues and collaborations between the Administration and our business community colleagues to develop solutions that remedy the inequities that exist.

—Thomas Bracken, President & CEO, New Jersey Chamber of Commerce

To read the Governor's press release and view study, click here.