I am very disappointed that Senate President Steve Sweeney is reneging on his commitment to phase out the corporation business tax surcharge by advocating a new tax on businesses to fund NJ Transit.
We all agree that NJ Transit needs more funding and we all want to see it restored to full health, but to say as the Senate President did today, that business is the benefactor of transportation is disingenuous.
Everyone in the state benefits from a strong infrastructure and a good transportation system, so the costs for repair and upkeep should be shared across the board.
The larger issue with Senate President Sweeney’s proposal is that this additional tax compounds New Jersey’s ongoing issues with affordability and competitiveness, and reneging on a commitment such as the Senator has done today severely erodes our credibility with the businesses we are attempting to attract and retain in New Jersey.