NJBIA - New Jersey Business & Industry Association
New Jersey Business & Industry Association
The Department of the Treasury reported Friday that May revenue collections for the major taxes totaled $2.120 billion, down $331.2 million, or 13.5 percent, below last May as the economic impact of the global pandemic continues to take its toll on the State’s finances. Fiscal year-to-date, total collections of $26.864 billion are now down $2.498 […]
Should New Jersey borrow money for operating expenses? Senate President Stephen Sweeney thinks New Jersey will probably have to borrow something to make up for the massive loss of state revenues caused by the coronavirus shutdown. But he’s in no hurry. During a town hall webinar with NJBIA and the State Chamber of Commerce earlier […]
The New Jersey Assembly on Thursday voted to do something most policy experts usually think is a bad idea – borrow money to fund general operating expenses. Ordinarily, NJBIA would oppose such a move as one that contributes to the state’s fiscal cliff financial problems. These are hardly ordinary times, and a more nuanced view […]
Responsible, short-term borrowing may be appropriate to assist in needed revenue collections and to avoid painful tax increases to balance New Jersey’s FY2021 budget, the New Jersey Business & Industry Association testified today. However, NJBIA Vice President of Government Affairs Christopher Emigholz cautioned the Assembly Budget Committee that the authorization of $5 billion in borrowing […]
Assembly Budget Committee Chairwoman Eliana Pintor Marin said she personally wouldn’t favor increasing taxes on the business community to plug holes in the next state budget, noting businesses are already struggling to provide the jobs New Jersey residents need during the COVID-19 pandemic. “Now more than ever we need business and we need businesses to […]
Everything you need in one email.
© 2019 NJBIA. All rights reserved.
New Jersey Business & Industry Association
10 West Lafayette Street Trenton, NJ 08608-2002
Tel: 609-393-7707
If you need assistance, contact our membership department at 609-393-7707, ext. 2673.