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NJGOP Chairman Reacts To Murphy’s Absurd Economic Development Speech


the staff of the Ridgewood blog

Trenton, NJ – Yesterday, Governor Phil Murphy gave New Jersey Business a good laugh , after 18 tax increases totaling over $1.5 billion in new taxes the  Governor has come up with a new scheme spending even more money to encourage startups in the Garden state .

Continue reading NJGOP Chairman Reacts To Murphy’s Absurd Economic Development Speech

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NJGOP Chairman: Bob Menendez’s attack on the pharmaceutical industry is void of any credibility


July 18,2018

the staff of the Ridgewood blog

Trenton NJ,  Senator Menendez’s re-election campaign has begun to invest in a line of attack that includes criticisms of the pharmaceutical industry. NJGOP Chairman Steinhardt released the following statement in response to those attacks:

“Corrupt, career politician Senator Menendez’s election conversion on these issues won’t fool New Jersey voters. The fact that Menendez greedily solicited and took nearly $1 million in donations from pharma, but now suddenly is the crusader against the industry is the height of hypocrisy. His desperate rhetoric directly contradicts his votes in Washington, where he voted to allow pharmaceutical companies to delay the release of less expensive generic drugs.”


● Menendez Voted Nay, Regarding S Amdt 2107, “Authorizes Import Of FDA-Approved Drugs From Canada.” (SAmdt 2107, Amendment Rejected – Senate, (43 – 54), U.S. Senate, 5/24/2012; Menendez Voted Nay)

● Menendez Voted Nay, Regarding S Amdt 2111, “Prohibits Pharmaceutical Companies From Delaying The Release Of Generic Drugs.” (S Amdt 2111, Amendment Rejected – Senate, (28 – 67), U.S. Senate, 5/24/2012; Menendez Voted Nay)

● Menendez Voted Nay, Regarding S Amdt 769, “Authorizes Individuals To Import FDA Approved Drugs From Canada.” (S Amdt 769, Amendment Rejected – Senate, (45 – 55), U.S. Senate, Oct. 20, 2011; Menendez Voted Nay)

● Menendez Voted Nay, Regarding S Amdt 2793, “Authorizing Importation Of Prescription Drugs.” (S Amdt 2793, Amendment Rejected – Senate, (51 – 48), U.S. Senate, Dec. 15, 2009; Menendez Voted Nay)

● Menendez Voted Nay, Regarding S Amdt 4299, “Expressing The Sense Of The Senate On The Legalization Of Importing Certain Prescription Drugs.” (S Amdt 4299, Amendment Adopted – Senate, (73 – 23), U.S. Senate, 3/14/2008; Menendez Voted Nay)

● Menendez Voted Yea, Regarding S Amdt 1010, “FDA Drug Import Certification Amendment.” (S Amdt 1010, Amendment Adopted – Senate, (49 – 40), U.S. Senate, 5/7/2007; Menendez Voted Yea)

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Governor Christie Takes Steps to Safeguard New Jersey’s Economic Future


Vetoes Legislation That Would Impede Economic Gains and Hinder Garden State Businesses

August 30, 2016
the Staff of the Ridgewood blog

Trenton, NJ , Taking action to protect New Jersey’s economic future, Governor Chris Christie today vetoed Assembly Bill No. 15, which would have raised the minimum wage to $15 per hour by the year 2021. Three years ago, New Jersey residents voted to raise the minimum wage to $8.25, along with annual adjustments based on the Consumer Price Index (CPI). This bill would have made New Jersey only the third state to adopt a $15 minimum wage.

“Despite having a constitutional mandate in place, the legislature now wants to increase the minimum wage by almost 80 percent just three years later,” said Governor Christie.  “While this bill’s proposed increase surely is responsive to demands from Democrat legislators’ political patrons, it fails to consider the capacity of businesses, especially small businesses, to absorb the substantially increased labor costs it will impose, killing jobs and erasing gains of more than 275,000 private sector jobs since 2010. I cannot support a bill that undermines the positive results we have achieved in New Jersey and I am returning A-15 to the legislature with an Absolute Veto.”

Business owners would face added expenses from this substantial wage hike through increased payrolls, taxes and supply costs, leaving them with these undesirable options: laying off workers; reducing employee hours; raising prices; leaving New Jersey; or closing altogether.  Other states and cities ramping up to a $15 minimum wage – California, Seattle and Washington, D.C., for example – are already seeing those negative economic impacts, from fewer jobs to increased costs for goods and services on college campuses, in restaurants and in the manufacturing sector.

Similar outcomes in New Jersey would be a significant step backward on the road to economic recovery and an affront to all of the accomplishments of our private-sector businesses over the past six-and-a-half years.

From offering $380 million in unemployment insurance tax relief to merging the State’s economic development incentive programs through the Economic Opportunity Act, Governor Christie has fought to make New Jersey more competitive and to encourage businesses not only to move to the Garden State, but also to stay here, and to expand their operations and hire new employees.

Governor Christie continues to focus on creating better paying, middle-class jobs in innovative sectors and through small business growth while continuing to build on New Jersey’s economic momentum.

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Legislative budget office: N.J. will get $162M less in taxes than Christie says



New Jersey tax collections will come in about $162.1 million short of Gov. Chris Christie’s expectations for the current and upcoming fiscal year, the nonpartisan Office of Legislative Services told lawmakers Tuesday. Samantha Marcus, NJ.comRead more

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New Jersey has to rethink its budget because one guy moved


Linette Lopez

If you move away from your home state, some friends might throw you a party. Maybe you’ll get a happy-hour discount at your local bar.

If you’re really a big deal, you might get to throw out the first pitch at your local minor-league baseball team’s next game.

Other than that, everything will be pretty much the same after you’re gone.

That is, of course, unless you’re billionaire David Tepper.

If you are him, then when you move away you have the potential to send your whole state ( in this case New Jersey) into red-alert mode.

Tepper, the founder of the hedge fund Appaloosa Management, moved to Florida last fall. This, according to Bloomberg, has leaders of his former state very concerned.

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Governor Christie goes on war path in vintage Christie rant


Day of verbal assaults in N.J. was vintage Christie

DECEMBER 9, 2015, 11:49 PM    LAST UPDATED: THURSDAY, DECEMBER 10, 2015, 12:05 AM

In a rare public event in New Jersey this week, Governor Christie ripped into the state’s largest business community for nearly 40 minutes, stealing headlines by telling leaders to “get a spine” and quit playing “kissy-face” with “crazy and liberal” Demo­crats he said were bought and paid for by union “pigs.”

But he was far from done.

Over the course of that speech to the New Jersey Business and Industry Association, and later during his monthly radio call-in show, Christie attacked or insulted at least a half-dozen other targets, some familiar, some not.

Tuesday’s string of attacks was a vintage version of the Christie who rose to national fame hurling invective at his adversaries and dressing down supporters if they strayed from the path.

Christie spared few from his withering critiques, from former governors to “liberal lunatics” in the Legislature to the “brutally liberal, ridiculous” media to a Senate aide. He even took a jab — jokingly — at the hapless Philadelphia 76ers, who plan to move their practice facility to Camden next year.

His speech to business leaders and the radio show were the only public events on his schedule Tuesday. On Wednesday, Christie did not attend a groundbreaking ceremony for Subaru’s new headquarters in Camden, one of the many achievements — along with luring the 76ers to New Jersey — he’s touted as part of his tax-incentive program.

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Business tax rebates go unpaid by New Jersey



Business tax rebates go unpaid by New Jersey

FEBRUARY 17, 2015, 9:49 PM    LAST UPDATED: TUESDAY, FEBRUARY 17, 2015, 9:49 PM

As the state pours billions of dollars in business tax breaks into programs aimed at strengthening New Jersey’s struggling economy, it has put the brakes on another incentive program, leaving hundreds of companies without promised payments that could total in the hundreds of millions of dollars.

Seeking to balance the state budget over the last few years, the Christie administration and the Legislature have each slashed funding for the Business Employment Incentive Program, commonly referred to as BEIP, eliminating payments to companies that were promised annual income tax rebate checks in return for moving to New Jersey or expanding here.

The affected businesses range from HighRoad Press — a small printing company that was promised $345,000 over 10 years for its move from Manhattan to Moonachie — to retail giant Bed Bath & Beyond, which is owed $2.8 million for creating jobs in 2012 and 2013. Paying out the money from these awards — estimated at $650 million according to one state estimate — would seem out of reach without an unexpected massive boost in state revenues. The state stopped awarding new grants under the program in 2013.

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Lure of the South takes a toll on corporate NJ; new demographics, globalization play roles


Lure of the South takes a toll on corporate NJ; new demographics, globalization play roles

JANUARY 7, 2015, 11:36 PM    LAST UPDATED: THURSDAY, JANUARY 8, 2015, 6:28 AM

Forty-five years after New Jersey’s manufacturing industry began its decline, as companies started moving their factories to the South, there are signs that the state’s corporate sector may be going the same route.

Tuesday’s announcement by Mercedes-Benz USA that it plans to move its corporate headquarters from Montvale to metro Atlanta followed similar announcements in the last 18 months by Hertz of Park Ridge, which moved to Florida’s Gulf Coast, and Sealed Air of Elmwood Park, which is moving to Charlotte, N.C.

So now three Fortune 500 companies, along with nearly 2,000 jobs, are moving or have moved to Southern locations that years ago would likely not even have been considered by corporate executives.

Though they cited reasons for their moves specific to their business or industry, it’s clear that the South now holds an attraction that it once did not. A variety of factors are in play, including lower taxes and operating costs, an improved quality of life and a stronger workforce.

“I don’t think it’s a tidal wave yet,” said James Hughes, dean of the Bloustein School of Planning & Public Policy at Rutgers University. But change is clearly afoot, he said.

“What’s changed is the perception of the South,” he said. “After the first frontier companies moved there, they proved that there is no problem securing a high-quality workforce, and that people would migrate there if there were good jobs available.”

To be sure, many companies have left New Jersey for other destinations. New York’s Rockland and Orange counties, for example, still attract a good number of companies, including Hunter Douglas and Croton Watch Co. recently. Yet the lure of the South appears to be growing.