NJBIA President and CEO Michele Siekerka took her message on the need for fiscal reform to Power and Politics this weekend, explaining to host Erik Landskroner that New Jersey’s budget has increased debt by 382 percent.
Policies like the millionaire’s tax will only contribute to the problem, she says. Gov. Phil Murphy’s proposals to lower the threshold for the top income tax rate (10.75 percent) from $5 million per year to $1 million will only drive more wealth out of the state.
“What we should be focusing on in the budget is reform—true reform,” she said.