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Mahwah NJ, The New Jersey Business & Industry Association today said a bill that would impose a new tax on electronic stock trades processed in New Jersey could easily lead to exchanges leaving the state, resulting in a loss of jobs and tax revenue in yet another hit against New Jersey’s business competitiveness.
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Mahwah NJ, The New Jersey Chamber of Commerce opposes legislation (S-2902/A-4402) which would impose a new tax on financial transactions, such as electronic stock trades, that flow through major data centers in New Jersey.
Simply put, the tax could backfire on New Jersey. The mere discussion of this tax has caused several stock exchanges to begin exploring moving their data centers out of New Jersey – to states that don’t impose such a tax. Last month, the New York Stock Exchange, which has a data center in Mahwah, N.J., said it ran one of its exchanges from a back-up data center in Chicago to demonstrate its readiness to move out of New Jersey. Two other exchange operators, Nasdaq Inc. and Cboe Global Markets Inc., also indicated that they would leave New Jersey over the tax. If New Jersey loses data centers, the state would actually be looking at less revenue and less jobs.
Continue reading Financial Transition Tax Will Drive Data Centers Out of New Jersey
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Lodi NJ, Motorists lining up outside of facilities in the pre-dawn hours, no less than six sites closed due to COVID, and countless residents frustrated by a system that has let them down, is what New Jersey residents face at DMV facilities. This has become business as usual for New Jersey’s Motor Vehicle Commission.
Continue reading Its October and New Jersey’s Motor Vehicle Commission is STILL a Total Disaster
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MORRISTOWN NJ, On October 15th, New Jersey’s Department of Labor and Workforce Development issued the monthly jobs report for September 2020. Dr. Charles Steindel, former Chief Economist of the State of New Jersey and current Resident Scholar, Anisfield School of Business at Ramapo College, analyzed the report for the Garden State Initiative:
Continue reading Astonishing Collapse in Labor Participation Rate in New Jersey
NJ September Revenue Collections Down 4.4 Percent
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Trenton NJ, The Department of the Treasury today reported that September revenue collections for the major taxes totaled $3.467 billion, down $161.0 million, or 4.4 percent below last September. Fiscal year-to-date, total collections of $5.607 billion are down $535.7 million, or 8.7 percent below the same three months last year.
Continue reading Murphy Lock Down Continues to Crimp New Jersey Tax Collections
file photo by Boyd Loving
the staff of the Ridgewood blog
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Ridgewood NJ, in a major blow to the draconian lock down imposed by New Jersey Governor Phil Murphy , the World Health Organization has warned leaders against relying on COVID-19 lockdowns to tackle outbreaks — after previously saying countries should be careful how quickly they reopen.
WHO envoy Dr. David Nabarro said such restrictive measures should only be treated as a last resort, the British magazine the Spectator reported .
Continue reading World Health Organization Now Says Lockdowns Make Poor People an Awful Lot Poorer
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Ridgewood NJ, NFIB’s Research Center released the latest survey relating to COVID-19 and its impact on the small business economy. The majority of Paycheck Protection Program (PPP) borrowers have used all of their loans and are preparing to apply for forgiveness.
“Small businesses in NJ have reached their financial limitations,” said NFIB’s New Jersey State Director Eileen Kean. “Now is the time for New Jersey to use the $2-billion CARES Act money that has not yet been spent to help Main Street survive.”
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Paramus NJ, The membership of the Veterans of Foreign Wars is shocked to learn of the 39 additional unreported COVID 19 deaths of NJ Veteran Memorial Home residents. The failure to report these deaths leads to the appearance of a cover up by the Administration. While we are supportive of the recently announced Attorney General’s Office investigation into the deaths, it is unacceptable that it took over five months for this investigation to begin. Back in April, the State had in its possession a U.S. Department of Health report which concluded that our veterans, their spouses, and Gold Star parents, were denied the basic human right of a dignified existence. The contents of this report along with the shocking high death rate of the residents should have served as a catalyst to immediately initiate an investigation, not five months later. The lack of transparency and failure to act for five months has eroded any confidence in the Administration’s ability to police itself and the VFW calls on the State Legislature to demand for the Attorney General to appoint a special prosecutor to investigate the failures that caused these deaths.
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West Orange NJ, A U.S. Postal Service (USPS) mail carrier from Hudson County was arrested today for discarding mail, including 99 general election ballots sent from the County Board of Elections and intended to be delivered to West Orange residents, from his assigned routes in Orange and West Orange, U.S. Attorney Craig Carpenito announced.
Nicholas Beauchene, 26, of Kearny, New Jersey, is charged by complaint with one count of delay, secretion, or detention of mail and one count of obstruction of mail. He is scheduled to appear this afternoon before U.S. Magistrate Judge Cathy L. Waldor in Newark federal court.
Continue reading Feds Nab Postal Employee Dumping Election Ballots
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Chester NJ, U.S. Senate nominee Rik Mehta’s campaign has secured a large ad and advertising push for the final weeks of the 2020 election. Mehta’s campaign has targeted voters from the Asian American community with a large radio, TV, and digital ad buy that will reach hundreds of thousands of eligible voters. Additionally, the campaign has also rolled out a billboard advertisement in Newark questioning whether the current Senator was scared to debate Rik Mehta and defend his failed record in the wake of his refusal to return scheduling calls. Appearing on local NJ Channel 12 News, Booker agreed to debate Mehta on September 09 and has since failed to return phone calls from both the Mehta campaign and interested media outlets.
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Totowa NJ, in response to news that 200 mail-in ballots were found next to a dumpster this weekend, Senator Kristin Corrado and Senator Michael Testa urged Governor Phil Murphy to acknowledge the recurring problems with vote-by-mail ballots and to allow New Jerseyans to vote securely in person on voting machines this November.
In response to news that 200 mail-in ballots were found next to a dumpster, Sens. Kristin Corrado and Michael Testa urged Gov. Phil Murphy to acknowledge the recurring problems with VBM ballots. (SenateNJ.com)
Continue reading Governor Murphy Continues Ignore Vote By Mail Ballot Issues
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Trenton NJ, Cato Institute Fiscal Policy Report Card on America’s Governors 2020. Governors receiving an A are those who have cut taxes and spending the most, whereas governors receiving an F have raised taxes and spending the most.
Four governors were awarded an A on this report: Chris Sununu of New Hampshire, Kim Reynolds of Iowa, Pete Ricketts of Nebraska, and Mark Gordon of Wyoming. Seven governors were awarded an F: Ralph (Black Face) Northam of Virginia, Andrew Cuomo of New York, Gretchen Whitmer of Michigan, Phil Murphy of New Jersey, J. B. Pritzker of Illinois, Kate Brown of Oregon, and Jay Inslee of Washington.
