A large coalition of business groups, trade organizations and state legislators took to the Statehouse steps Tuesday in opposition to a budget proposal put forth by Senate and Assembly Democrats that would raise taxes on millionaires and businesses.
Business leaders and legislators appeared on the State House steps this morning to warn that a proposal to increase income taxes would hurt New Jersey's economy and job growth - essentially chasing high-income earners, and the taxes they pay, to more tax friendly states like Florida and Pennsylvania.
The deal struck to preserve the 2 percent cap on police and firefighter pay raises comes as a relief. Without it, New Jersey towns were at a real risk of losing the control over budgets and property taxes they’ve exercised since 2011.
Hundreds of business leaders, legislators and state department heads packed the galleries and the outdoor pavilions of the New Jersey State Museum in Trenton on June 12 for the New Jersey Chamber of Commerce's 17th Annual Open House. It was the second consecutive year the event was held away from our Trenton offices - a result of the growing popularity of the event. As always, there was great food, drink and ample networking opportunities for everyone.
We have a short-term budget problem in New Jersey but a much more serious long-term fiscal problem. We can debate solutions to both, but there is only one solution that has received unanimous support for bringing New Jersey back to economic health.
The unquestioned solution is job growth.
While Gov. Chris Christie is still several weeks away from announcing his proposal to overhaul New Jersey’s pension and retiree health benefits system, his plan seems most likely to center on a “hybrid” model that would give current employees a smaller defined-benefit payoutsupplemented by a 401K-style defined contribution plan.
Neither of them said they necessarily supported an increase to the state gas tax. But both Assemblymen Gary Schaer, chair of the Assembly Budget Committee, and Declan O'Scanlon, the committee's ranking Republican, said a gas tax hike alone wouldn't answer the need to raise $1.6 billion for annual maintenance and improvements to the state's highways, bridges and mass transportation.
Government Regulations Are No longer the Top Concern for Executives
Business leaders are down on Obamacare, concerned about consumer spending, and they don't want New Jersey to host another Super Bowl, according to the latest ParenteBeard-New Jersey Chamber of Commerce Business climate survey.
Government Regulations Are No longer the Top Concern for Executives
Business leaders are down on Obamacare, concerned about consumer spending, and they don't want New Jersey to host another Super Bowl, according to the latest ParenteBeard-New Jersey Chamber of Commerce Business climate survey.
Democratic Assemblyman Gordon M. Johnson, Republican Assembly Anthony M. Bucco, and commercial lawyer Ted Zangari all sung the praises of the state's new economic incentives designed to lure companies to New Jersey, during a New Jersey Chamber of Commerce Breakfast Roundtable on Growing Jobs and the Economy in Monroe on April 29.