the staff of the Ridgewood blog
Wayne NJ , Calling Gov. Phil Murphy FY-2019 budget another nail in New Jersey’s economic coffin, the New Jersey Organization for Economic Growth is calling on all legislatures to reject the governor spending plan and create a fiscally responsible budget.
“The governor’s economic plan in no way represents the fiscal reality facing New Jersey; nor does it address the concerns of the business community,” said OEG Chairman Joseph Caruso. “New Jersey leads the nation in taxes and has the worst business reputation in the country — and Gov. Murphy, unfortunately, wants to continue those trends”.
Murphy’s $37.4 billion spending plan is $2.7 billion – or 8 percent higher than the state’s current budget. Murphy’s FY-2019 budget increases spending by $1.5 billion and calls for an increase in the sales tax, as well as increases in the corporate business tax and another millionaire’s tax .
Murphy called his budget proposal “fiscally and morally sound,” which raised the ire of OEG Executive Director Alex Cucciniello.
“There is nothing moral about raising taxes on hardworking people and those who are trying to run businesses,” said Cucciniello. “There is nothing moral about supporting a budget plan that will lead to fewer jobs. The governor’s sense of morality is out step with residents of this state,” said Cucciniello.
“This budget will crush small businesses and the middle class in New Jersey. If the Governors goal is to get people to leave the state he is doing the right thing, ” said OEG Vice-Chairwoman Katie Cericola, an accountant. “New Jersey already has the highest corporate tax in the nation, increasing it will result in fewer jobs.
“Young people like me want to stay in New Jersey; it’s our home. But politicians like Gov. Murphy are making it hard for us to live here. He and his administration are out of touch with the economic struggles of Millennials,” added Cericola.
The governor’s proposed increased in taxes and spending — including adding $2.1 million to pay for legal fees for illegal immigrants who face federal justice, is an attack on working people in New Jersey, said Vice-Chairman John DePinto.
‘There are hard working legal residents of our state who cannot afford an attorney; yet we have a governor who wants those working people to pay for the legal bills of illegal immigrants so they can continue to violate federal law. That is not a morally or fiscally acceptable position,” said DePinto.
“The governor wants the already overtaxed people of New Jersey to pay for his progressive ideology. His personal priorities are wrong for the state,” added DePinto.
OEG officials said Murphy’s FY 2019 budget proposal failed to even consider cutting spending.
“In a state that is recognized as the most overtaxed in the nation; a state that is losing jobs and business investment; the fiscally prudent thing to do would be to find ways to reduce spending. But it appears that the governor’s team just larded more fat on an already bloated state budget,” said Cucciniello.
Caruso called the governor’s introduction of his first budget disappointing beyond expectations.
“The people of New Jersey elected a governor who ran on a platform of raising taxes. and that’s just what he intends to do. But I don’t think anyone could imagine that it would be this bad,” he said.
Caruso noted that the governor’s budget proposal fails to address the state’s very real and very damaging pension deficit.
“Like governor’s before him, Mr. Murphy actually believes New Jersey taxpayers can afford the public pension system the politicians created. And to continue the deception, Gov. Murphy, like governor’s before him, has greatly exaggerated the return on pension investments so he doesn’t have to deal with the giant pension and retiree benefits hole that gets bigger every month.”
REJECT THE PROPOSAL
Cucciniello said he hopes the legislature will reject the governor’s proposal and start over.
“Hopefully there are fiscally responsible people in Trenton who will not ignore the fact that New Jersey’s fiscal policies are causing great damaging the people of this state Hopefully, they will not continue to ignore the plight of many people — Millennials and retirees – who have to make the tough decision to leave New Jersey because our elected officials simply don’t want to make the tough decisions required to make this state affordable for the middle class,” said Cucciniello.