Like most everybody, we are keeping a close eye on the economy. Right now, the uncertainty continues to grow.
Adding to inflation and the prospect of a recession, is a banking crisis that is rattling markets. And it could worsen. If lending tightens, many companies, especially smaller ones, could lose access to financing. It could cause severe distress to our economy — and our state leaders need to prepare now.
N.J. Chamber chief lobbyist Michael Egenton testified today in front of the state Senate Budget Committee. "The state budget's proposed $10 billion surplus should be used judiciously and, if the funds are used, it should be for programs that shore up New Jersey’s economy," Egenton said. "If the banking crisis worsens and financial institutions pull back on lending, which many leading economists predict could happen, our companies will need direct assistance. Some economists put the chance of recession this year at 65%, up significantly from a few weeks ago." Click here for the Michael’s testimony.
- 2023-03-15
The New Jersey Chamber of Commerce is saddened to learn of the passing of Sen. Ron Rice. Ron was a tireless advocate on a wide variety of issues and he always listened to the concerns of New Jersey’s business community, especially from small business owners across the state. It was a pleasure to see him as a regular attendee on our Walk to Washington – and in 1995 the Chamber presented him with our Legislator of the Year award. Ron cared deeply about his constituents and was passionate about making sure their interests were represented. Our condolences to the Senator’s family and his many friends.
- 2023-03-12
The In-Person Summit will Feature a Two-Day General Session of Interactive Discussions about How to Boost New Jersey's Economy
#ReNewJersey
Gov. Phil Murphy will deliver the keynote remarks at the N.J. Chamber of Commerce's ReNew Jersey Business Summit & Expo tomorrow and Wednesday, March 14 and 15, at Harrah’s Atlantic City. The event will feature 800 attendees, 47 speakers,15 sessions on the state economy and over 90 exhibitors. The governor’s remarks will come on the afternoon of the first day of the statewide Business Summit.
- 2023-02-27
The New Jersey Chamber of Commerce is pleased that Gov. Murphy has introduced a budget that includes no new taxes and fees. We particularly commend the governor for reiterating his promise to allow the Corporation Business Tax (CBT) surcharge to sunset at the end of 2023. Now it is up to the members of the Legislature to do the right thing and pass this in June. The governor’s position on this is correct. It will help make the state more competitive and more affordable. It will also demonstrate that our leaders honor their commitments, which results in the reliability that businesses seek. Still, even after the CBT surcharge expires, New Jersey will have fourth highest CBT rate in the nation, which should be targeted for further reductions.
It will include pure networking where you can eat, drink and exchange business cards
As you may already know, our ReNew Jersey Business Summit & Expo is fast approaching on March 14 and 15 at Harrah’s Resort Atlantic City – and we need you there! This will be the Chamber’s biggest and most important event of the year, and a big turnout is critical to its success. The Summit will be attended by hundreds of business, nonprofit and government leaders to discuss and explore ways New Jersey can best position itself for a bright economic future.
‘For the Many NJ’ Coalition is Asking Governor and Legislature to Renege on a Promise. That’s Wrong.
- 2023-01-30
The New Jersey Chamber of Commerce is calling out members of the 'For the Many NJ' coalition for asking Gov. Murphy and the Legislature to renege on the state’s promise to sunset the Corporation Business Tax (CBT) surcharge at the end of 2023. The coalition is wrong on so many levels, the N.J. Chamber said.
- 2023-01-27
The In-Person Summit will Feature a Two-Day General Session of Interactive Discussions about How to Boost New Jersey's Economy
#ReNewJersey
- 2023-01-25
The New Jersey Chamber of Commerce strongly disagrees with recent comments criticizing Gov. Murphy’s verbal support of ending the state Corporation Business Tax (CBT) surcharge when it expires at the end of 2023. We applaud him for taking this position, especially since the CBT surcharge was already extended once.