Three silhouettes of New Jersey filled with images of $100 billsThe results from a joint NJBIA/Rutgers-Eagleton poll on April 10 captured the discontent of New Jersey residents…. Yet here we are in the thick of budget season with the call for more taxes,” NJBIA’s Chrissy Buteas writes in her latest op-ed.

Gov. Phil Murphy’s proposed Fiscal Year 2020 budget would broaden New Jersey’s 10.75 percent income tax rate to include income over $1 million instead of $5 million, Buteas notes, and there’s not nearly enough in the way of structural reforms which are desperately needed to reverse New Jersey’s fiscal crisis.

Buteas, NJBIA’s Chief Government Affairs Officer, is leading the association’s campaign for fiscal reform as New Jersey crafts its FY 2020 budget. She lays out the arguments for it in this op-ed published Monday in NJBIZ.

The Assembly and Senate budget committees are holding hearings with each of the state government departments and interested parties to craft a spending plan to go into effect July 1, the start of New Jersey’s fiscal year. Senate President Stephen Sweeney is calling for fiscal reforms based on the “Path to Progress” report he commissioned last year, and NJBIA is supportive of many of the proposals in that report.

Pension and health benefit costs dominate state government spending, and the “Path to Progress” offers solutions to address them. One recommendation is to offer a combined defined-benefit/defined-contribution pension plan for new public workers. As Buteas notes in the op-ed, such a move was successfully implemented next door in Pennsylvania.

“We need look no further than Pennsylvania to find a state with the will to change its fiscal plight, which wasn’t even as dire as New Jersey’s is now,” Buteas writes. “The Keystone State, under a Democratic governor, has implemented a risk-managed hybrid plan for new public employees that analysts expect will save Pennsylvania taxpayers $8 billion to $20 billion over the next three decades, depending on performance of plan investments.”

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6 responses to “Taxpayer Discontent Doesn’t Stop NJ from Calling for New Taxes”

  1. Melody Singer says:

    Vicious Cycle
    People complain about high taxes
    Democrats constantly raise taxes
    Democrats always re-elected to Trenton
    People complain about high taxes
    etc etc etc

    New Jersey LOVES high taxes! Why else do they keep re-electing the same trash in Trenton?

    • Ann Mosso says:

      If you keep using the same ingredients to make the cake, the cake won’t change. Vote all of these tax and spend politicians out!

  2. Dan G. says:

    The Senate has 40 members and the General Assembly has 80 members. We have a Governor and his cabinet of say 15.
    So my question is: How is it even possible that roughly 135 people can hold 8.9 million NJ residents hostage?

  3. Steve says:

    Because the people that vote for a living, work for the government, unions, and people that just don’t pay attention outnumber the people paying the freight by millions. I’m not planning on staying forever as the changes necessary to save this state will require actual leadership and some difficult decisions, none of which will be made until there factually is no saving it.

  4. Dan Hertz says:

    PEOPLE!!!!! Throw the bums out!! NJ Politicians are beholden to either special interests or for parasites who will vote for them.
    NJ Businesses must unite and vote for new blood that wants fiscal control and to make NJ affordable. Parasites and power hungry politicians are destroying our State. They continue their path profligate ways because we keep re-electing them.