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On behalf of the New Jersey Chamber of Commerce and its Board of Directors, I want to congratulate Phil Murphy on his inauguration today as New Jersey's 56th governor and also congratulate Shelia Oliver for becoming our new lieutenant governor.

 

Under the Christie administration, we witnessed significant economic progress behind a series of initiatives that had bipartisan support, including tax cuts, debt reduction, renewal of the Transportation Trust Fund, the Economic Opportunity Act and a reduction in job-killing regulations. These actions, all supported by the NJ Chamber, helped lead to seven consecutive years of private sector job growth.

 

Gov. Byrne was a lifelong supporter of the business community and the NJ Chamber and we will all fondly remember his annual attendance at our Walk to Washington, which he attended an astounding 51 times.

 

The New Jersey Chamber of Commerce says bravo to Gov.-elect Phil Murphy and Rep. Josh Gottheimer for taking the lead in addressing the negative impact of the property tax deduction limitation mandated by the new federal tax reform law. Kudos also to state Senate President Steve Sweeney who we understand has endorsed their proposal.

 

For many property taxpayers in New Jersey, this could ease some of the sting - at least for the year 2018 - of the recently approved federal tax reform legislation.

While this is a welcome benefit to those who can take advantage of a prepayment, it does not negate the fact that the net impact of the new 'Tax Reform and Jobs Act' will be a negative to our state.

 

Although we are pleased with, and applaud, the business and individual tax reductions, there are many aspects of the proposal that will be extremely detrimental to our state. The full impact of the legislation will put New Jersey into the category of one of only three to six states that will 'lose' after adoption. States with high income tax, high property tax and high real estate values will be hardest hit by the bill. New Jersey qualifies in all three categories.

 

The New Jersey Chamber of Commerce congratulates Gov.-Elect Murphy for nominating Catherine McCabe to be the next New Jersey Department of Environmental Protection commissioner.

 

The New Jersey Chamber of Commerce applauds Gov.-elect Murphy's nomination of Diane Gutierrez-Scaccetti for commissioner of the state Department of Transportation.

 

The New Jersey Chamber of Commerce congratulates Gov.-elect Phil Murphy for his nomination of Assemblywoman Elizabeth Muoio as state treasurer.

Assemblywoman Muoio has served with distinction on the state Assembly's Budget and Economic Development committees and as Mercer County's Director of Economic Development & Sustainability.

 

Jobs for New Jersey's Graduates and AT&T are working together to help raise the high school graduation rate and support career paths for underserved students. Because of its success in keeping kids in school, Jobs for New Jersey's Graduates was one of 34 Jobs for America's Graduates (JAG) state affiliates selected to share in $3.5 million from AT&T. The announcement was made at Jobs for New Jersey's annual Student Leadership Conference at Rider University.