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Trenton NJ, Several bills up for committee votes today will make the proposed FY2021 budget revision go from bad to worse, the New Jersey Business & Industry Association testified today.
NJBIA Vice President of Government Affairs Christopher Emigholz told the Assembly and Senate Budget committees today that adding another $500 million in borrowing to the already unnecessary $4 billion in borrowing submitted by Gov. Phil Murphy is wholly irresponsible.
Continue reading $4 billion in New Borrowing Submitted by Governor Murphy is Wholly Irresponsible
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Trenton NJ, Senate Republicans launched an online petition to enlist the public’s support to convince legislative leaders to allow a special bipartisan committee with subpoena power to investigate the massive loss of life in New Jersey’s nursing homes, veterans homes, and long-term care (LTC) facilities due to COVID-19.
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Lodi NJ, Senator Anthony M. Bucco and Senator Kristin Corrado said computer network outages at New Jersey Motor Vehicle Commission agencies this morning have only added to the suffering of drivers who continue to wait on hours-long lines for basic services.
Continue reading Outrage Grows Over New Jersey Motor Vehicle Commission Disfunction
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New Brunswick, NJ, New Jersey has regained nearly half of the jobs it lost due to the pandemic-driven economic contraction of March and April, but future employment gains will become increasingly difficult, according to a new Rutgers report.
“The United States and New Jersey have made substantial progress in climbing out of the economic chasm that opened beneath our feet in April. But the summer’s extraordinary job growth began to slow in August, with signs that labor market advances are losing momentum,” said report co-author James W. Hughes, University Professor and dean emeritus of the Edward J. Bloustein School of Planning and Public Policy at Rutgers University-New Brunswick.
Continue reading Rutgers University: NJ’s Slow Pace Economic Recovery
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Mahwah NJ, On September 26th, next Saturday, all U.S.-based stock exchanges will simulate a day’s worth of trading using their backup sites in the Midwest. The test is a dry run for relocating the data processing permanently should New Jersey go through with its new financial transactions tax, which targets New York-based stock exchanges that currently rely on electronic infrastructure located across the river in New Jersey.
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Trenton NJ, With the U.S. gaining 1.4 million jobs in August and the national unemployment rate at 8.4% compared to the nearly historic high of 14.7% at the peak of the coronavirus pandemic, WalletHub today released updated rankings for the States Whose August Unemployment Rates Are Bouncing Back Most, along with accompanying videos and audio files, to illustrate which areas of the country have had the best recovery so far.
Continue reading New Jersey has the 9th Worst Unemployment Rate Recovery
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Continue reading Governor Murphy promised to raise your taxes and boy has he kept that promise.
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Ridgewood NJ, With some states continuing to reopen while others have paused or reversed course due to surges in COVID-19, the personal-finance website WalletHub today released updated rankings for the States with the Fewest Coronavirus Restrictions, as well as accompanying videos and audio files.
To identify which states have the fewest coronavirus restrictions, WalletHub compared the 50 states and the District of Columbia across 17 key metrics. Our data set ranges from whether the state has any penalties for non-compliance with COVID-19 legislation to whether the state has required face masks in public and health checks at restaurants. Below, you can see highlights from the report, along with a WalletHub Q&A.
Continue reading New Jersey Is the State with the 10th Most Coronavirus Restrictions
“with amazing bandwidth found everywhere, why stay? staff are fleeing NYC and NJ in mass numbers. The 12billion in debt will make NJ unattractive for 12 years. parkway taxes up. cigarette taxes. gas taxes, real estate tax. no incentives to move to nj. murphy is murdering NJ one tax at a time. wall street companies are very clear they are there to be profitable. so if its not attractive economically, and good staff are fine moving, why stay? its just a building and a bunch of dedicated T3s and other connectivity. easy move.”
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Mahwah NJ, The New York Stock Exchange is signaling that it will move its electronic trading systems out of New Jersey if the state implements a Governor Murphy proposed tax on financial transactions. The NYSE said Friday that it will run one of its exchanges from a backup site in Chicago for a week as a demonstration of its readiness to quit the state, according to a notice sent to clients.
Continue reading Financial Firms Including the NYSE Consider Moving Out of New Jersey
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River Vale NJ, Assemblywomen Holly Schepisi ,”Only in New Jersey could we increase spending by BILLIONS, borrow BILLIONS in dollars because we allegedly can’t pay our increased spending, increase the gas tax during a pandemic to the fourth highest gas tax in the nation, cut programs like mental health services for at risk youth (a program that has been in place since the 1980s and has assisted children with mental health, employment, pregnancy prevention, drug abuse education and more) and then announce a program to give free cash starting next year to anyone who gives birth.
It is the equivalent of paying for your neighbor’s HULU account so they can watch Handmaid’s Tale while your own home is in foreclosure. The State of NJ is proposing to borrow money at a cost of $80 million in interest payments to the tax payers in this State in order to issue free “Baby Bonds” that will yield only a 1.35% return over 18 years or an approximate total of $21.6 million in interest. How does this make any sense whatsoever?”
Continue reading Governor Murphy’s “Crazy Eddie” Borrowing Scheme
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Lodi NJ, Governor Murphy today signed legislation (A4486) which authorizes the New Jersey Motor Vehicle Commission (MVC) to use stored driver’s license or identification card photos for longer than eight years and limits certain appointment times at MVC locations to senior citizens and persons with certain medical conditions during COVID-19 pandemic. The Governor also signed A4520, which temporarily extends deadlines to register vehicles and obtain driver’s licenses for new State residents during the COVID-19 public health emergency.
Continue reading New Jersey Motor Vehicle Commission Extends Deadlines and Streamlines Processes
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Trenton NJ, NJBIA Vice President of Government Affairs Christopher Emigholz issued the following statement regarding the nonpartisan Office of Legislative Services’ (OLS) state revenue projections of $37.8 billion next year, $1.4 billion more than the approximately $36.4 billion in revenues estimated by the Murphy administration.
Continue reading $5 billion in borrowing and New Taxes Proposed by Governor Murphy are not Needed
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Trenton NJ, Senator Steven Oroho has sent a letter to Senator Paul Sarlo, chairman of the Senate Budget and Appropriations Committee, calling for at least one Senate Budget Committee meeting to be open to public testimony. The public is currently not allowed to attend any of the Budget hearings. Committee members, invitees, and staff will participate from remote locations using video conferencing technology. The public may view the meeting through the State Legislatures homepage.
