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New Jersey lost $18 billion in net income over nine years thanks to a net outmigration of 2 million residents.

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file photo by Boyd Loving

July 3,2018

the staff of the Ridgewood blog

Wyckoff NJ, Assemblyman Kevin J. Rooney R- 40  comments on the latest tax increase from Trenton .
Rooney said last Thursday during the state budget battle ,”People moving out of New Jersey are having a significant economic impact, according to a report released by NJBIA. Outmigration by the Numbers: How Do We Stop the Exodus? Concludes that New Jersey lost $18 billion in net income over nine years thanks to a net outmigration of 2 million residents.
The exodus leads to $8.4 billion in lost household spending; $11.4 billion in lost economic output; 75,000 lost jobs and $4 billion in total lost labor income.
This year Democrats are fighting with Democrat Governor Phil Murphy over two spending plans: their plan to spend $36.5 billion and Murphy’s plan of $37.4 billion. Except this time it is over which taxes to hike to fund their irresponsible spending increase. When will New Jersey Democrats stop the insanity?”

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Pennacchio: Warns No Way to Attract Amazon

Amazon Introduces New Tablet At News Conference In New York

July 2,2018

the staff of the Ridgewood blog

Trenton NJ, In response to Trenton Democrats various proposals to increase taxes on New Jersey’s residents and businesses by billions of dollars this year, Senator Joe Pennacchio (R-26) issued the following statement:

In response to Trenton Democrats various proposals to increase taxes on New Jersey’s residents and businesses by billions of dollars this year, Sen. Joe Pennacchio issued the following statement. (SenateNJ)
“Recently New Jersey offered Amazon 5 billion dollars to locate its headquarters in Newark. It is difficult to believe that as New Jersey offers Amazon a 5 billion dollar incentive with one hand, it is pinching their pockets and all business pockets in New Jersey with the other hand. Perhaps they were hoping Amazon would not notice.

“This type of business incentive/non-incentive insanity simply reinforces New Jersey as the least business-friendly state in the country. The billion dollars in new employer taxes proposed will wipe out any goodwill New Jersey may have earned through corporate giveaways.

“This is not a way to attract and retain businesses in New Jersey. This is not the type of government the citizens of New Jersey deserve.”

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Assemblywomen Holly Schepisi : “Any tax and spending increases without real reforms to our pension system is irresponsible and reckless”

July 1,2018

the staff of the Ridgewood blog

Trenton NJ,in a last minute deal the state government shut down has been avoided . Assemblywomen Holly Schepisi , “Update for New Jersey residents. It appears a State shutdown will be averted. On the upside you will be able to go to the beach, the racetrack or a casino, and renew your license. On the downside you will be paying even more for gas, internet purchases, hospital visits, plastic and paper bags, Airbnb, Uber and Lyft, health care, and utility bills. I keep hearing a mantra of New Jersey needs sustainable revenue. However New Jersey has significant revenue. New Jersey ranks in the top 5 highest taxed states in the country. New Jersey has among the highest pension debt. Any tax and spending increases without real reforms to our pension system is irresponsible and reckless. Good luck New Jersey residents. You voted for this”

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Reader says we are led by people that don’t know that eventually you run out of other people’s money

This is a great example of why this state is failing. The Federal government increases the pain we all feel by changing the property tax deduction which lowers our property values and the state increases the taxes on the decreasing value of our property. This in turn makes staying in NJ less viable, which again, lowers our property values. Instead of realizing that we need real structural changes in the state to bring the fiscal house in order, we are led by people that don’t know that eventually you run out of other people’s money.

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NJGOP Chairman Accepts Phil Murphy’s Challenge To Find “Reasonable” Alternative To Tax Increases

Trenton-Statehouse

June 27, 2018

the staff of the Ridgewood blog

Trenton NJ, This morning Governor Phil Murphy proclaimed that he can solve the budget stalemate in 30 minutes, and stated that “if folks have a reasonable, credible response,” he would be willing to “entertain” a different approach. NJGOP Chairman Steinhardt accepted the Governor’s challenge and offered a Republican alternative to raising taxes and fees.

“The GOP can offer Phil Murphy a credible solution in a lot less than 30 minutes. It starts with living within our means,” said Chairman Steinhardt. “Put taxpayers’ interests ahead of political patrons’ and special interests. Cap state spending at 2%, like the state does at the local level. Agree not to insert a new spending provision without eliminating an existing one in order to tow the budget line, and freeze new tax increases. Finally, we can save $2 billion off the bat by addressing the state’s pension crisis. We can even take these reforms right from Governor Murphy’s own, 2005 report! There are reasonable alternatives to the Governor’s tax and spend mentality, all he has to do is have the courage to reach across the aisle to find them.”

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Business Owners Concerned about Taxes and Affordability in New Jersey

June 27,2018

the staff of the Ridgewood Blog

MOUNTAINSIDE NJ  The Hugin for Senate campaign continued a statewide tour of roundtable events to discuss the affordability crisis gripping New Jersey and the impact of the proposed state budgets in Red Bank this morning.

Speaking to local business owners, Hugin discussed taxes, burdensome regulations, and healthcare with the group. John Dwyer, who represents the Hazlet Business Owners Association that includes more than 150 local businesses, kicked off the discussion on the impact of tax hikes on employees and employers.

“More taxes aren’t the solution, they’re only going to make things worse,” said Dwyer. “My employees are hard working folks that know how to hustle, but elected officials needs to wake up and realize they are hurting employees and employers with their pie in the sky efforts.”

“What government doesn’t understand is that we have to look at everything. Healthcare, for example, for employers is out of sight. If we can figure out that issue, it would probably solve most of the problems we as business owners have,” said Rena Levine Levy, co-owner of WindMill Restaurants, a chain that started in 1963 in Long Branch.

“Making New Jersey more affordable means seeking ways to support small businesses and encourage job creation. The fight in Trenton—over which taxes to increase—isn’t addressing the problem: the state is becoming an increasingly unaffordable place to live and operate a business,” said U.S. Senate candidate Bob Hugin.

Hugin’s affordability tour will continue tomorrow in Toms River where he will be meeting with young professionals and later in the day in Bayville where he will be meeting with seniors.

Bob Hugin, a Marine Corps Veteran and business leader who has created thousands of New Jersey jobs, is running for U.S. Senate to challenge incumbent Senator Bob Menendez. For more information visit bobhugin.com.

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Assemblyman Kevin J. Rooney ,”New Jersey’s Democrats can’t even agree on how much to increase spending and how much to raise taxes; meanwhile the state careens ever faster toward financial disaster”

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Let me try to put this year’s state budget insanity into perspective. Last year the Democrat Legislature shutdown the government because they were fighting over a $34.7 billion dollar spending plan, and this year they are fighting with Democrat Governor Phil Murphy over two spending plans: their plan to spend $36.5 billion and Murphy’s plan of $37.4 billion. Except this time it is over which taxes to hike to fund their irresponsible spending increase.

New Jersey’s Democrats can’t even agree on how much to increase spending and how much to raise taxes; meanwhile the state careens ever faster toward financial disaster. New Jersey has had more people move-out the past six years than any other state in the nation because housing costs and taxes are sky-high, which makes me ponder when New Jersey Democrats will stop the insanity.

Assemblyman Kevin J. Rooney

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Assemblywomen Holly Schepisi Don’t believe the hype. We need to stop being a piggy bank

phil murphy

June 26,2018

the staff of the Ridgewood blog

Rivervale NJ, Assemblywomen Holly Schepisi had this report on the states budget negotiations, ” Fascinating conference call. I joined in the Democratic State Committee conference call with Governor Murphy 1-609-246-3298 to talk about the budget. There is a proposed spending increase of several billion dollars, tax increases on everything from Uber rides, Air BnB, gas tax increases, corporate business taxes, hospital taxes, sales tax, vape tax, internet sales tax, sports betting taxes, firearm taxes, among others but that isn’t enough. The Governor’s spending proposal is so high that even with all these tax increases there is a potential $1 BILLION deficit, with only partial school funding, partial pension payments and no reforms whatsoever. Instead there is the push to further increase the sales tax, the small business tax, the corporate business tax and a millionaire’s tax.

During this call Governor Murphy’s talking points are as follows:
1. Fiscal year ends Saturday and the Democrats are meeting but NJ needs sustainable long term revenues in place — aka permanent additional tax increases beyond those mentioned above.

2. NJ needs to stop kicking the can down the road — NJ must must move beyond that. We need to break the back of that culture.
We need to ensure “hand outs” are available. They deserve it.

I agree with the Governor that NJ needs to stop kicking the can down the road. We must make cuts. We need to reform our pension system. We must change our school funding formula. We must change our healthcare system.

3. Property Taxes – the Governor said property taxes are so high because of our public educational system and that additional taxes would help with this burden.

Unfortunately this statement is just not true. Even if our current funding formula was fully funded the average suburban community still receives virtually no funding. By way of example, River Vale currently receives $455 per student per year in school funding. In the event the school funding formula was fully funded River Vale would receive a maximum of less than $1,000 per student per year in school funding. All 70 of the Bergen County school districts combined would still receive less than Jersey City. Bergen County currently contributes more than 30 percent of the total taxes paid and receives less than 3 percent of those monies back. Under the new tax proposals we may send down more than 35-40 percent and receive back even less.

Don’t believe the hype. We need to stop being a piggy bank.

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Plastic Bag Tax Gets the Go in New Jersey

New Jersey tax payer in the photo

June 23,2018

the staff of the Ridgewood blog

Trenton NJ, Lawmakers in New Jersey approved a bill Thursday that would slap a 5-cent fee on single-use plastic and paper bags.State lawmakers say it is a bill that both attempts to reduce waste, while bringing in revenue to the tackle specific environmental cleanup.

According to Northjersey.com, the A-3267/S-2600 bill, was first considered by legislative committees on Tuesday and approved by the full Senate and Assembly on Thursday. The votes were 23-16 in the Senate and 41-32 in the Assembly.

The New Jersey measure would impose a nickel fee on single-use plastic and paper bags at supermarkets, pharmacies, large retailers and chain restaurants. However, individuals who are over 65 years old or are using government assistance to pay for groceries are exempted from paying the fee.

Joe Sinagra  chimed in , “I will guarantee you that plastic straws will be targeted next.
Either you will have to carry around a personal straw or be subject to paying a straw ‘fee’ . . . a Straw Tax.
The money collected will go towards a plastic awareness campaign.
After that the Democrats will create a Plastic Waste Commission with 6 figure salaries, and the state plastic coffers will have a ‘0’ balance . . . so naturally the fees will need to be increased.”

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Shutdown More likely as Democrats Split on State Budget

June 22,2018

the staff of the Ridgewood blog

Trenton NJ, late afternoon meetings gave some hope that a budget deal would be reached , the Democratic controlled legislature will now move forward with its own budget.

Talks with the Governor appear to have collapsed for the moment.

“The Governor’s doing a press conference alone, that should tell you something,” a statehouse source said and at the press conference Governor Phil Murphy to blame the Christie Administration, saying ,”Unfortunately the legislature seems intent on keeping the legacy of Chris Christie intact in Trenton,”

Speaker Craig Coughlin went back to his caucus to report the news were he told his members he’s going forward with the alternative budget pushed by state Democrats .

For their part Assembly Republican Leader Jon Bramnick and Assemblyman Tony Bucco said , “Our caucus is united,We won’t vote for a tax increase. [They] can call it anything they want.