NJBIA President and CEO Michele N. Siekerka, Esq. issued the following statement today regarding Senate President Stephen Sweeney’s proposed legislation to reduce the cost of government in New Jersey.
“NJBIA has long called for a comprehensive reform agenda to address the structural challenges that have hindered our great state’s ability to be more affordable and regionally competitive. We appreciate Senate President Sweeney’s commitment to structural reforms that are desperately needed in order to provide New Jersey with a pathway for a fiscally sound and sustainable state budget in the future.
“The reforms recommended by the Economic and Fiscal Policy Workgroup would greatly improve New Jersey’s fiscal challenges in the short- and long-term, and serve as a much-needed alternative to the established and ineffective pattern of remedying budget imbalances with added taxes on our long-overburdened businesses and residents.
“New Jersey, more than ever, needs to act with a reform agenda that comprehensively addresses underfunded pensions and the right-sizing of health benefit costs. If we’re to ever make this great state more affordable and competitive, and not address our growing deficits with increased taxes, the time is now.”