State Treasurer to Business Leaders: “Unsustainable Path” for Public Employee Pensions Will Bring Everybody to the Negotiating Table
Gov. Phil Murphy plans to make a record-high $3.2 billion payment to the public employee pension system in the upcoming fiscal year under the state budget he proposed, said state Treasurer Elizabeth Maher Muoio. But she added a caveat - the Murphy administration will seek compromises from the public employee unions when the time comes to renegotiate their labor contracts.
- 2018-03-23
- NJ Spotlight
Far from the $30 billion the Gateway tunnel and Portal Bridge will ultimately cost, federal funds could get shovels in the ground for critical infrastructure initiative
The Gateway transportation project — which includes a new rail tunnel between New Jersey and New York — is in line for significant funding from the federal spending bill now being considered by Congress. Although the $541 million is only about half of what lawmakers from New Jersey and New York originally sought in a bill that won approval from the House of Representatives last year, it will allow work to continue apace on the project.
The federal spending measure could also allow Amtrak to move ahead with the replacement of the century-old Portal Bridge near Secaucus Junction, which was the source of the latest major headache for commuters last week.
It is very good news for New Jersey that the federal omnibus spending bill includes funding that can be utilized for the portal bridge and the Gateway tunnel. Although the funds do not fully cover the costs of these projects, it is a good start with future funding seemingly available.
These projects do more than connect New Jersey to New York City. They connect New Jersey to future economic vitality. Our state is heavily dependent upon its infrastructure and its ability to efficiently move people and products. Our infrastructure is the foundation of our economy and there is no way that New Jersey can remain competitive without a modern and efficient system of roads bridges and tunnels.
- 2018-03-15
- NJ Advance Media
There was a fear not too long ago that the iconic Shore dive Asbury Lanes would have to be shutdown for good or demolished because of structural and mechanical issues that plagued the popular bowling and music venue after 50 years of use.
But part of real estate investment company iStar's development plan of Asbury Park included restoring the 18-lane bowling alley, which opened in the 1960s and also later became a hip alternative music and arts venue before closing in October 2015, according to the Asbury Park Press.
Now, come Memorial Day weekend, Asbury Lanes will reopen as "the same anything-goes local hangout it always was and reborn as a state-of-the-art music venue," its new owners say.
- 2018-03-14
- The Christian Science Monitor
President Trump's tax reform has put high-tax Democratic states in a quandary: Should they tax more as Uncle Sam taxes less? Or will that push the rich to leave?
On Tuesday New Jersey's new Democratic governor, Phil Murphy, broke sharply with President Trump and Congress on taxes. He used his first budget address to propose a hefty tax hike on millionaires.
- 2018-03-13
One of New Jersey's late governors is getting his wish: His ashes will spend some time in a saloon.
A ceremony at Healy's Tavern in Jersey City on Friday will honor former Democratic Gov. Brendan Byrne, who died in January at age 93.
Gov. Phil Murphy today presented a broad and aggressive agenda which clearly follows through on his campaign commitments which he believes will make New Jersey's economy stronger and fairer.
We agree with a number of the initiatives the governor identified in his speech as critical to our state's economic health, including strong support for education and workforce development, and a robust funding of infrastructure projects, NJ Transit and the innovation economy.
We also believe it is a positive step to review state incentive programs and consider expanding them to a greater segment of the business community.
- 2018-03-13
New Jersey Chamber of Commerce President Tom Bracken released the following statement today in response to Governor Phil Murphy’s Budget Address:
Gov. Phil Murphy today presented a broad and aggressive agenda which clearly follows through on his campaign commitments which he believes will make New Jersey’s economy stronger and fairer.
We agree with a number of the initiatives the governor identified in his speech as critical to our state’s economic health, including strong support for education and workforce development, and a robust funding of infrastructure projects, NJ Transit and the innovation economy.
- 2018-03-13
- CBS2 News
After he made a lot of pricey promises on the campaign trail, many people wondered how New Jersey Gov. Phil Murphy would pay for it all. On Tuesday, he announced his budget plan. CBS2's Meg Baker interviews NJ Chamber President Tom Bracken.
Laura Hahn has joined the New Jersey Chamber of Commerce as director of government relations, where she will advocate on behalf of the business community, primarily in economic development, taxation, and health care. Laura reports to Michael Egenton, executive vice president of government relations with the Chamber.