NJBIA - New Jersey Business & Industry Association
New Jersey Business & Industry Association
Gov. Phil Murphy and legislative leaders celebrated an agreement on a $400 million income tax increase tax this week as part of the current FY2021 budget negotiations. But unfortunately the realities and the intent of this oft-proposed income tax increase are two things. The revised FY2021 budget will raise the state’s gross income tax rate […]
Yesterday, Gov. Murphy delivered his FY 2019 budget proposal, which spends $37.4 billion and maintains a surplus of $743 million. The proposal reflects a $2.7 billion increase from the FY 2018 Budget ($34.7). Below are a number of documents related to the proposal, as well as a summary which highlights many items important to the […]
The New York Times reported yesterday on a Republican U.S. Senator’s concern that small businesses and other so-called pass-through entities are not being treated fairly under the Senate version of the GOP federal tax reform bill. Sen. Ron Johnson, R-Wisconsin, said he could not vote for the current version of the bill because it gives […]
On June 30, Governor Christie signed Executive Order No. 209, which effectively placed millions of dollars in budget appropriations in fiscal reserve until public-employee healthcare plan design committees are able to find $250 million in savings that had been built into the budget. The Executive Order also directed the Treasurer, in consultation with the Acting […]
The New Jersey Business & Industry Association which represents 20,000 member companies, who employ 1.2 million people, supports S-2412/A-10 and S-2411/A-11 the bipartisan legislation that generates revenue for the Transportation Trust Fund (TTF) through an increase in the motor fuels tax while significantly reducing taxes on New Jersey residents. We thank Senate President Steve Sweeney, […]
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New Jersey Business & Industry Association
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