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

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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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NJGOP has Harsh Words on Murphy’s State Shutdown

Phill Murphy -Sara Medina del Castillo

June 30,2018

the staff of the Ridgewood blog

Trenton NJ , As New Jersey’s state government approaches what seems to be an inevitable shut down, NJGOP Chairman Doug Steinhardt released the following statement:

“As Democrat politicians in Trenton paralyze important government services fighting over what taxes to raise, the people of New Jersey are struggling to understand why their representatives aren’t working out a way to take New Jersey in the other direction and reduce the tax burden. Governor Murphy and the Democrats in Trenton have carried on a completely partisan process that has led us to this point. Governor Murphy calls this a high cost for high return state, but on one of the busiest weekends of the year, New Jerseyans can expect zero return for their highest in the country taxes. The NJGOP will carry this memory, in great detail, into every Election Day until we have reasonable representation minding our tax dollars.”

Following reports regarding a letter from New Jersey Attorney General Gurbir S. Grewal that a state government shutdown would force horse tracks to shut their doors, U.S. Senate candidate Bob Hugin issued the following statement:

“Governor Murphy and his Attorney General should stop playing politics and using New Jersey’s businesses, employees, and the thousands of people planning to celebrate their holiday weekend as pawns in his misguided effort to hike taxes,” said Hugin. “Instead of doubling down on failed policies that have made New Jersey unaffordable for residents, families, and businesses, Governor Murphy should work with the legislature to provide tax relief and create an environment that allows our businesses to thrive and prosper.”

Assemblywoman Serena DiMaso echoed Hugin’s comments.

“Governor Murphy should stop playing politics by threatening New Jersey’s businesses with a government shutdown over his misguided plan to hike taxes on our residents,” said DiMaso. “What he should be doing is working to provide tax relief for hard-working New Jerseyans and focusing on policies that allow our businesses to thrive.”

 

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Business Owners Concerned about Taxes and Affordability in New Jersey

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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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Trenton Declares War on Business and Jobs

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June 22,2018

the staff of the Ridgewood blog

Trenton NJ, Following failed talks with Governor Phil Murphy, the state Senate this evening proceeded with passage of its own $36.5 billion budget as an alternative to Murphy’s version. The cornerstone of the budget would be a hike in corporate taxes .

The budget passed 21-17.Republican Senators Kristin Corrado and Kip Bateman voted yes on the budget and Democratic Senators Dick Codey, Nick Sacco, Nia Gill and Ronald Rice opposed it.

Assemblywomen Holly Schepisi summed it all up for New Jersey ,”Tonight the NJ Legislature passed a bill which increases our corporate business taxes to the highest in the nation. Here is a floor speech I gave highlighting some of the reasons I voted no. Representing a district that has recently lost Sony, Hertz and Mercedes, among other corporations, to more business friendly states I could not in good conscience vote to further eliminate our ability to compete.”

“This budget at the end of the day does nothing to make New Jersey more affordable,” said Senate Republican Leader Tom Kean, Jr. (R-21).

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New Jersey Corporation Business Tax Revenues Implode

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June 15,2018

the staff of the Ridgewood blog

Trenton NJ, The Department of the Treasury today announced that dedicated revenues remain stable while General Fund revenues remain weak for FY 2018 with the Corporation Business Tax (CBT) seeing a substantial decline for the month of May.

As State Treasurer Elizabeth Maher Muoio has pointed out in recent months, despite the growth in dedicated revenue sources – the Gross Income Tax (GIT) and the Petroleum Products Receipt Tax (PPGRT) – a challenging structural imbalance remains due to the weakness in revenues supporting the General Fund. Excluding the GIT and the PPGRT, collectively all other major revenues are down $120.4 million so far in FY 2018.

The CBT declined 44.8 percent in May and is down 3.4 percent for the year. The CBT for banks and financial institutions is down 26.8 percent year-to-date. Additionally, the Motor Fuels Tax, Estate Tax, the Cigarette Tax, and Casino Revenues are also down through the end of May.

Overall, May revenue collections for major taxes were up 6.3 percent compared to last May, however this is due solely to the growth in two of the State’s dedicated revenue sources. Year-to-date, total revenues increased $1.478 billion, or 5.9 percent, tracking closely with the FY 2018 revised aggregate target.

The Sales and Use Tax, the largest General Fund revenue, was up 1.1 percent in May and is growing by only 1.5 percent year-to-date due to recent tax rate reductions.

May collections for the GIT rebounded from April’s weak performance. Net receipts of $990.3 million were up $116.2 million, or 13.3 percent above last May. Of that growth, $71.5 million was due primarily to the annual “tail” of final 1040 tax payments lagging into May. The GIT, which is dedicated to the Property Tax Relief Fund, is up 9.4 percent year-to-date in FY 2018, $1.125 billion above the same point last year.

The State’s other significant dedicated revenue, the PPGRT, is up 70.7 percent through the end of May, $474.0 million above the same point last year, due to a statutory tax rate increase. These funds, however, are dedicated to the Transportation Trust Fund.

June will be the 12th month of FY 2018, featuring important quarterly estimated payments for the GIT and the CBT. In particular, the CBT’s June quarterly estimated payments are highly uncertain following a 16.0 percent decline during April and a 19.5 percent decline in May. Treasury estimates some improvement in June, but if double-digit declines continue, the CBT would fall below the year-end target.

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Sierra Club: Murphy Admin Steals Half of Volkswagen Settlement for Budget

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April 23, 2018, 11:48 am | in

Trenton NJ, The Murphy Administration is taking $69 million of the $141 million the state will receive from settlements with Volkswagen involving air-pollution violations and cheating on emissions tests will go into the general fund for the state budget. This is funding that is supposed to be going to clean air initiatives, including electric vehicles programs.

“New Jersey is supposed to move forward with electric vehicles. Instead of helping to jumpstart our goals, the Murphy Administration is stealing $69 million, the entire state portion, of the Volkswagen settlement to balance the budget. Volkswagen is paying for the damage they did to communities by increasing and failing to report on air pollution. We received the settlement money because of Volkswagen’s pollution and it should all go toward mitigating those affects and cleaning New Jersey’s air. Instead, Murphy is letting the air our of our tired by taking the money for the general fund,” said Jeff Tittel, Director of the New Jersey Sierra Club. “The Governor campaigned against taking environmental settlement monies for plugging budget holes the way Christie did. Now, he’s doing so. This goes against the spirit of the constitutional amendment.”

New Jersey accepted $72 million settlement from the Volkswagen Mitigation Trust on top of the $69 million previously awarded by the Volkswagen Group of America. The funds settle allegations that Volkswagen “violated New Jersey’s clean air statutes and defrauded consumers by selling diesel vehicles equipped with “cheat” software that deactivated their on-board emission controls except during emissions testing.” The New Jersey Department of Environmental Protection (DEP) has been named lead agency in administering the funds. The state must submit a “Beneficiary Mitigation Plan” that explains how the funds will be used.

“We desperately need the $69 million that they want to divert to make our economy greener with electric vehicles. This could jumpstart our clean transportation system. We need to make sure that that funds go to the right places including to plug-ins and helping urban areas where air pollution is worst. This will help create jobs and move our state forward with an automobile that has zero emissions and decrease fossil fuels. The biggest source of air pollution and greenhouse gases in our state comes from automobiles, which is why we need to increase electric vehicles to clean our air. We need to install plug-in stations along with providing things like zip cars, ride shares, and taxis to encourage EV’s that everyone can afford,” said Jeff Tittel. “We should be using the entirety of the $141 million to move New Jersey forward on electric vehicles.”

Last Fall, New Jersey voters approved Ballot Question #2 to dedicate environmental settlement funds to environmental clean-ups. This will block future administrations from robbing the money meant for repairing, preserving, or restoring natural resources. In NJ, these resources are held in the Public Trust. If you spill chemicals and destroy them, you not only have to clean-up your mess, but also compensate the public for their loss. The ballot language is as follows:

9. There shall be credited annually to a special account in the General Fund an amount equivalent to the revenue annually derived from all settlements and judicial and administrative awards relating to natural resource damages collected by the State in connection with claims based on environmental contamination.

“The voters overwhelmingly decided that environmental settlement money such as that from the Volkswagen settlement should be used only for non-environmental purposes. Isn’t air pollution an environmental contaminate as well? The Murphy Administration is going against these wishes by taking half of the funds for plugging budget holes. Volkswagen illegally added air pollution, creating increased health impacts and climate impacts. The entirety of the settlement funds should be used to mitigate those affects by improving our air quality and reducing greenhouse gasses,” said Jeff Tittel. “Even if it we believed it was legal to take the funds, we would recommend against doing so because it hurts the people and environment of New Jersey.”

The Clean Energy Fund is being raided once again; this time by $136 million or even higher. This includes $80 million for NJ Transit, $50 million for lights in government buildings, $2 million to the BPU and $5 million to implement RGGI. This Fund is meant to support projects that make our homes more resilient such as weatherization, along with energy efficiency and green jobs. The DEP is also suffering from budget raids and money being redirected.

“The Clean Energy Fund has become the state’s ATM. Christie consistently used the money to balance the budget and the Murphy Administration is continuing that pattern. This has become a hidden energy tax on consumers. Instead of using this money for the environment and creating jobs, it is used to plug budget holes. On top of the clean energy fund raids, $80 million dollars are being diverted from the DEP. This is funding for important programs that would go towards cleaning up toxic sites, brownfield redevelopment, and watershed protection. This will have a real impact on the agency because by diverting those funds, they are not hiring enough staff for DEP to do its job,” said Jeff Tittel.

We should be using these funds for things such as promoting electric vehicles in New Jersey. We can electrify our ports, especially in urban areas, with electric busses to reduce air pollution in areas already highly affected. We can use electric vehicles for transportation in and around the ports including moving goods and containers. We can implement clean transportation programs so that our school children can ride in cleaner, quieter, and healthier school buses that are powered by electricity. This is especially important for children who live in urban areas already overburdened by air pollution. Electric busses will benefit all mass transit riders, as well as anyone living in the city where they run without released air toxins.

“Stealing half of the Volkswagen funds for plugging budget holes is wrong and unfair to the people of New Jersey. We need to take advantage of the full $141 million to create more in-state jobs, better vehicles, less carbon pollution, and cleaner, healthier air. We believe that these funds can ideally be used to move New Jersey forward with electric vehicles. We can see the benefits of clean air and clean jobs if we put this money to good use. We can build a state-wide network of charging stations, create green jobs, save people money on gas, and reduce air pollution,” said Jeff Tittel, Director of the New Jersey Sierra Club.

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Murphy Plans to Deliver on Promises to Raise Your Taxes

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march 14,2018

the staff of the Ridgewood blog

Trenton NJ, Gov. Murphy introduces 2019 budget in State House address, and no surprise he rattled off a series of significant tax increases for the garden State . Murphy had run on a platform of raising taxes or what critics called “Murphy’s Law” and here is just a few he wants to start with ; a sales tax increase to 7%, tax on AirBnB rentals , new taxes on Uber and Lyft, E- Cigarette taxes, legal Marijuana taxes of 25% plus sales tax, income tax for $1 million plus and new business taxes.

 

 

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FDU Poll 39% believe the state is on solid footing with Murphy at the helm ?

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January 31,2018

the staff of the Ridgewood blog

Ridgewood NJ, FDU’s Public Mind released a poll showing Governor Phil Murphy garnering a 35% approval rating in his first two weeks in office, with 21% disapproving and 40% who don’t know yet. His predecessors fared better in their first weeks in office: Governor Christie had a 48-31%, while Governor Corzine had 47-16%.

One bright spot for Murphy, is according to the poll, there is optimism among the respondents in the direction of the state: 39% believe the state is on solid footing with Murphy at the helm, compared to 18% in October when Christie was still in office. President Trump has a 31-60% favorable/unfavorable rating, according to the same poll.

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California Moves to Cut Pension Benefits

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January 12,2018

the staff of the Ridgewood blog

Ridgewood NJ, watch out New Jersey you could be next , for decades in California, a sacrosanct rule has governed public employees’ pensions: benefits promised can never be taken away.

But now the California Supreme Court has threaten to reverse that premise and open the door to benefit cuts for workers still on the job.

California Governor Jerry Brown said legal rulings may clear the way for making cuts to public pension benefits, which would go against long-standing assumptions and potentially provide financial relief to the state and its local governments.

ballooning expenses are an issue that Gov. Jerry Brown will face in his final year in office despite his earlier efforts to reform the state’s pension systems and pay down massive unfunded liabilities.

At issue is the “California Rule,” which dates to court rulings beginning in 1947. It says workers enter a contract with their employer on their first day of work, entitling them to retirement benefits that can never be diminished unless replaced with similar benefits.

It gives workers security that their retirement will be safe and predictable after a career in public service. But it also ties lawmakers’ hands in responding to exploding pension costs.

It’s widely accepted that retirement benefits linked to work already performed cannot be touched. But the California Rule is controversial because it prohibits even prospective changes for work the employee has not yet done.

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Reader says If New Jersey were a corporation it would have declared bankruptcy years ago

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If New Jersey were a corporation it would have declared bankruptcy years ago. Murphy want to “tax the rich” to raise only a fraction of what the state needs to meet its obligations. The Republican tax plan beats him to the punch by removing the deduction for state and local taxes which are already unsustainably high. Things will only get worse as the wealthiest individuals start to leave the state in greater numbers and the mess will be left to the middle class to clean up.
So, about those union pension payments, can we cut a deal on them now or would you rather we default on them later?

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Deadlock on Atlantic City threatens other N.J. cities, credit agency says

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The deadlock between Gov. Chris Christie and elected officials over a deal to rescue Atlantic City from a mounting financial crisis has the potential to send shockwaves through some of the state’s largest cities, a credit agency said Wednesday. Matt Arco, NJ.com Read more

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New Jersey Must Focus on Cutting Spending All of our futures depend on it

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March 30,2016
Assemblywomen Holly Schepisi

Ridgewood NJ, When looking at why the cost of living in New Jersey is so absurdly high, it is imperative to understand actual numbers for spending around the State.

Anyone following the proposed Atlantic City bankruptcy and/or takeover is probably trying to understand how Atlantic City got to this point. Most people are unaware that the population of Atlantic City consists of only 39,500 residents and 6,679 school age children. Yet, the municipal budget is $262,000,000 equaling spending of $26,531.64 per household of 4 people.

Likewise the school budget is $166,000,000 which equals an average spending of $24,887.56 per child. In other words, for a family of 4 with two school age children, the governmental and school spending in Atlantic City equals $76,306.76 per household. We must cut spending and figure out a better way. All of our futures depend on it.

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Number of retired N.J. officials with $100K+ public pension will double in 5 years

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The ranks of retired public officials who collect more than $100,000 a year from New Jersey pensions have more than doubled in the past five years, according to an NJ Spotlight analysis of state Treasury data. Mark Lagerkvist, NJSpotlight Read more