With New Jersey’s FY2019 budget drama over and higher taxes for small and large job creators set for another year, NJBIA President and CEO Michele N. Siekerka, Esq. says in an Op-Ed in the Asbury Park Press that the time is now for policymakers to address spending and comprehensive tax reform.
“With true planning and a commitment to stop the unsustainable practice of taxing our way out of our structural deficits, our policymakers can avoid the 11th hour budget crisis and put into motion a long-term vision for our great state,” she writes. “The lens through which this planning should occur is one of regional competitiveness and affordability. New Jersey should no longer be an outlier for business climate rankings and trends. We can do better and we must.”
During budget testimony, NJBIA shared stories of New Jersey business owners who were being advised to move to Pennsylvania due to the high-cost of doing business in the Garden State.
Siekerka reiterated that without addressing pension and healthcare deficits through structural reforms, New Jersey will continue to be less competitive in the region and in the nation.