OCEAN TOWNSHIP NJ, After Governor Phil Murphy allowed months of lost business and income for people who rely on the summer rental season, Assembly candidates Matt Woolley and Mike Amoroso are relieved to hear an 11.625 percent tax passed last year has been repealed. Woolley and Amoroso are challenging Assemblywoman Joann Downey and Assemblyman Eric Houghtaling in the 11th legislative district.
Ridgewood NJ, Governor Murphy has announced that he will be eliminating the shore rental tax going forward. The Governor has admitted that the tax was an unnecessary burden and many people say that mom and pop rentals were inadvertently taxed. The NJGOP has been repeatedly calling for the end of the shore rental tax .
NJGOP Chairman Doug Steinhardt released the following statement:
“Governor Murphy has admitted he made a mistake, but now it’s time to rectify that mistake. He must refund the money to the mom and pops who were forced to pay his shore rental tax this summer. Otherwise, it’s safe to assume it was intentional, and another democratic money grab no different than when Murphy tried to steal $33M from the firemen’s burial and hardship fund. Here’s the Governor’s chance to put his money where his mouth is, or better yet, back in the wallets of the moms and pops he took it from.”
Governor Waits till the second week in August to repeal new renters tax
the staff of the Ridgewood blog
Ridgewood NJ, Governor Phil Murphy today signed legislation (A-4814) amending the transient accommodations law enacted last summer to provide relief for many shore renters by narrowing the scope of rentals that are subject to taxation. The administration conducted a thorough legal and technical review to ensure that the legislation, as written, was not only feasible to implement, but more closely mirrors the original intent, which was to create parity throughout the rental industry by extending the existing tax on hotels and motels to certain short-term rentals, such as those done through online marketplaces. “Our shore economy adds tremendous vitality and dynamism to New Jersey,” said Governor Murphy.
ROSELAND NJ, Many people are aware of New Jersey’s $38 billion state budget. But when you add in municipalities, schools, counties and utilities, total government spending in New Jersey skyrockets way past that. Regina Egea, president of Garden State Initiative (GSI), takes us through GSI’s eye-opening research into the true cost of government in New Jersey, where all the money goes and what – if anything – can be done to reign in spending.
The IssuesWatch Podcast is a bi-weekly program published by the NJCPA and hosted by Jeff Kaszerman, NJCPA vice president of government relations. It covers the latest New Jersey policy and political issues – because you need to know both. The focus is on business and economic issues impacting the business community and all New Jerseyans.
Other recent episodes include:
Rundown on New Jersey’s Budget
Tax Issues Surrounding Cannabis Legalization
The Ups and Downs of Doing Business in New Jersey
Listen online at njcpa.org/podcast or subscribe for free via Apple Podcasts, Google Podcasts, Stitcher or your favorite podcast app.
Trenton NJ, Governor Phil Murphy today signed S2297 and A5111 into law, establishing the New Jersey Blockchain Initiative Task Force and creating the Innovation District Designation Program. Governor Murphy announced the signings while participating in a panel discussion at the Propelify Innovation Summit at Nokia Bell Labs in Murray Hill.
“Growing New Jersey’s innovation economy will take more than just new and smart government policy. It will also require new and smart infrastructure that enables businesses and governments to work with greater speed and efficiency, as well as a collaborative way of thinking that includes government, higher education, and the private sector,” said Governor Murphy. “These two important bills go a long way toward accomplishing those goals.”
Ocean City NJ, Legislation that would relieve the costly consequences of a tax on short-term rentals that was imposed by Governor Phil Murphy last year continues to sit on the governor’s desk while evidence of the tax’s damage to the Jersey Shore economy mounts.
Senator Jim Holzapfel and Assemblymen Greg McGuckin and Dave Wolfe (all R-Ocean) say they are frustrated by the delay and are calling on the Murphy administration to enact the bill before it’s too late for the summer season.
HOBOKEN NJ , Newell Brands (NASDAQ: NWL) today announced the companies decision to move its corporate headquarters from Hoboken to Atlanta, Georgia, in order to facilitate a stronger connection between senior leaders and the operations of the business, and to enhance the company’s culture and sense of community. Three of Newell’s seven operating divisions (Writing, Baby and Food) are based in Atlanta.
A Newell spokesperson said the company has approximately 300 employees in Hoboken currently, and less than 100 — primarily in leadership roles — would be moving South. The company will maintain its E-Commerce division in New Jersey, with all employees staying in Hudson County.
Ridgewood NJ, New Jersey features prominently on a blog post on the blog Zero Hedge.In the post written by Mac Slavo , Slavo says New Jersey residents are fleeing their state in droves thanks to the over taxation and immense financial burden placed on them by their socialist state government. In addition to the already sky-high federal tax that we are all forced to pay, those in New Jersey are struggling to make enough money to live after the state also steals a cut of their income.
Trenton NJ, The New Jersey Business & Industry Association testified today that it is paramount New Jersey puts a strong tax incentive program in place to attract and retain business in order to offset the high cost of doing business in the state.
Trenton NJ, Anthony Russo, president of the Commerce and Industry Association of New Jersey (CIANJ). CIANJ is a statewide business advocacy group, with offices in Rochelle Park and Trenton, representing the interests of more than 900 members from virtually every business sector (manufacturing, hospitality, financial, insurance, academia, healthcare, etc.). CIANJ prides itself in being a leading advocate for a free market economy, because we firmly believe it is through a free market economy that New Jersey thrives in terms of innovation, competition and the creation of private sector jobs.
Hackensack NJ, In accordance with an unfortunate edict enacted by Gov. Murphy’s administration, police in Atlantic County released an illegal alien this month who ran over and killed a 7-year-old boy and severely injured his 71-year-old grandmother.
The man accused of the killing — Jorge Rodriguez-Saldana, 30, was charged with third-degree causing a fatal crash and was issued a motor vehicle summons for being an unlicensed driver after the July 10 crash on White Horse Pike.
Rather than detain the man for federal ICE review authorities, the police following Gov. Murphy’s directive released him. According to Murphy’s edict local law enforcement is prohibited from cooperating with federal immigration officials.
Trenton NJ, according to Garden State Initiative the GDP numbers are out for 1Q 2019 and it’s not pretty for New Jersey. We’re tied with Maryland for the worst economic growth on the US Mainland with an anemic 1.8% growth.
While the US economy is booming, New Jersey is being left behind.
Egg Harbor NJ, U.S. Immigration and Customs Enforcement’s (ICE) Enforcement and Removal Operations (ERO) officers have arrested a Mexican national charged by the Egg Harbor Township Police Department for causing death while driving without a license, a 3rd degree felony, July 11, 2019. Jorge Rodriguez-Saldana, 30, was driving a vehicle that struck a grandmother and her two grandchildren, killing the seven-year-old child and critically injuring the grandmother.
Trenton NJ, Research by The Pew Charitable Trusts shows New Jersey has the second-largest pension fund deficit in the nation and underscores the urgent need to transition to a more sustainable hybrid system, NJBIA President & CEO Michele Siekerka said Friday.
According to Pew’s nationwide research on the fiscal health of public employee retirement plans, New Jersey ranked 49th in the U.S. because its plans were only 36% funded. New Jersey is one of only five states with less than 50% of the assets needed to fully fund its pension liabilities, according to Pew’s analysis of 2017 data.
Trenton NJ, Senator Joe Pennacchio criticized Governor Murphy’s lawsuit against the Internal Revenue Service, claiming it is a waste of state resources and taxpayer money.
“The Murphy Administration is lawsuit happy,” said Pennacchio (R-26). “The Governor should not be using New Jersey taxpayer dollars to play politics. Rather than fighting with the federal government, I urge Governor Murphy to focus on genuine and immediate tax solutions that we have the power as state lawmakers to advance.”
