Phil Murphy - Page 48 of 63 - THE RIDGEWOOD BLOG.

Posted on May 20, 2019May 20, 2019 by James — 10 Comments

Reader says , “Ummm, those unfunded pension liabilities are based on some outrageous assumptions”

“Ummm, those unfunded pension liabilities are based on some outrageous assumptions:

1. The State Investment Council assumes an annual return of 7.5% on the NJ state pension assets; a 30 year US treasury (which matches a long term pension liability) currently yields 2.825%. Pew Charitable Trusts suggests 6.5% is a more conservative assumption, which would increase the unfunded liability by 28% versus the current assumption assuming 7.5% annualized returns…

Posted on May 19, 2019May 18, 2019 by James — Leave a comment

ICE arrests 13 fugitive Aliens in 4-day New Jersey Surge

Agency targets fugitive aliens and those with criminal offenses

the staff of the Ridgewood blog

NEWARK NJ, U.S. Immigration and Customs Enforcement (ICE) arrested 13 immigration violators in New Jersey during a 4-day surge effort that targeted aliens who have been issued a final order of removal in the past five years, have failed to depart the United States, and have received criminal convictions or have pending criminal charges.“As this operation clearly demonstrates, ICE continues to focus its efforts first on public safety threats,” said ERO Newark Field Office Director John Tsoukaris. “The vast majority of the individuals targeted in this effort have criminal offenses in addition to their immigration violations, making them among the highest priority for enforcement.”

Posted on May 15, 2019May 15, 2019 by James — 1 Comment

Former Senator Lesniak: Murphy’s Fake Math on Business Tax Incentives

Amazon Introduces New Tablet At News Conference In New York

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Trenton NJ, Former Senator Lesniak had some choice words for what he called Governor Murphy’s Fake Math on business “Tax Incentives” .

Posted on May 15, 2019May 14, 2019 by James — 1 Comment

“The question needs to be asked: If we’re continuing to overtax our residents and businesses during an economic upswing, what will happen during an eventual economic downturn?

NJBIA Statement on State Revenue Announcements

New Jersey Business & Industry Association President and CEO Michele N.Siekerka, Esq. today issued the following statement on state revenue announcements by the state Office of Legislative Services and Treasury.

“The state tax collections announced today are encouraging, but not necessarily surprising considering the strength of the national economy, coupled with a Corporate Business Tax rate increase last year that is now second highest in the nation and is bringing in record receipts for the state.
“What is surprising, in light of this windfall, is the continued call for even more taxation as part of the FY 2020 budget proposal. Clearly, this additional revenue is more justification to not increase the Gross Income Tax rate on those making over $1 million, as proposed, as it will further hurt our competitiveness in the region.

Posted on May 9, 2019May 9, 2019 by James — 3 Comments

New Jersey Has the Highest Combined Corporate Tax Rate

for sale Ridgewood_Real_Estate_theRodgewopodblog

the staff of the Ridgewood blog

Ridgewood NJ, according to the Tax Foundation the Tax Cuts and Jobs Act (TCJA) significantly reduced the U.S. federal corporate income tax rate from 35 percent to 21 percent, making the U.S. more competitive with other developed nations.

However, it’s important for lawmakers to remember that corporate income taxes at the state level also contribute to the overall tax burden on corporate profits.

Posted on May 8, 2019May 7, 2019 by James — 5 Comments

Sweeney Bashes Murphy’s Latest Millionaire’s Tax Proposal As A Fiscal Charade: ‘For This Governor, The Millionaire’s Tax Is Just A Talking Point’

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Trenton NJ, Senate President Steve Sweeney issued the following statement in response to Governor Phil Murphy’s latest millionaire’s tax proposal:

“The unexpected surge in revenues the Governor is now claiming is the surge the Legislature expected when we imposed a 2.5 percent surcharge on the millionaire and billionaire corporations that benefited directly from the Republican Congress’ tax cut. It is the Corporation Business Tax surcharge we imposed that has been coming in far over the Administration’s revenue projections – just as the Legislature said it would.

Posted on May 8, 2019May 7, 2019 by James — Leave a comment

Assemblyman Warns Murphy’s Runaway Spending Assures Even Higher Taxes for Weary New Jerseyans

file photo by Boyd Loving

the staff of the Ridgewood blog

Wayne NJ, Assemblyman Kevin J. Rooney warned the state’s economy is in danger without meaningful spending cuts after attending Gov. Phil Murphy’s invitation-only budget roundtable for Passaic County elected officials.

Posted on May 8, 2019May 7, 2019 by James — 3 Comments

Murphy Backs Down on Raid from Special Fund Dedicated to helping the state’s Firefighters and their families

Frayed Outdoor Electric Cord likely cause of a 2-alarm house fire on South Pleasant Avenue, Ridgewood

the staff of the Ridgewood blog

Trenton NJ, At an invitation-only budget roundtable for Passaic County elected officials today, Gov. Phil Murphy reneged on his plan to raid $33 million from a special fund dedicated to helping the state’s firefighters and their families facing tragedy or financial hardship.

Posted on May 7, 2019May 7, 2019 by James — Leave a comment

Assemblyman says residents drowning in taxes, pushes towns to pledge no rain tax

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TRENTON NJ, In an effort to provide relief to taxpayers, Assemblyman Christopher DePhillips pushes towns to pledge against passing a rain tax.

“Over the past few days I have joined Assemblyman Ryan Peters by imploring municipalities to oppose the rain tax by taking the ‘no rain tax’ pledge and passing a ‘no rain tax resolution.’” I have reached out to mayors in my district and many of them have agreed that our residents are overtaxed and charging people for rain would only add insult to injury,” said DePhillips (R-Bergen).

Posted on May 7, 2019May 6, 2019 by James — 3 Comments

Murphy’s budget gimmick burns firefighters

Ridgewood's La Bella Pizza destroyed by Sunday Fire

file photo by Boyd Loving

the staff of the Ridgewood blog

Ridgewood NJ, Gov. Phil Murphy’s plan to raid more than $30 million from a special fund dedicated to helping the state’s firefighters was condemned today by Assemblyman Kevin J. Rooney.

“Governor Murphy, once again, refuses to acknowledge New Jersey’s affordability crisis. Instead of cutting spending, Murphy’s budget relies on gimmicks that take funding away from our first responders,” said Rooney (R-Bergen). “Stealing from our firefighters does not create a ‘stronger and fairer New Jersey’’ Murphy should be cutting spending and saving taxpayer money.”

Posted on May 7, 2019May 6, 2019 by James — Leave a comment

Most CPAs Are Telling Clients to Relocate out of New Jersey — Here’s How We Can Change That

file photo by Boyd Loving

Statement by Ralph Albert Thomas, CPA (DC), CGMA, CEO and Executive Director, NJCPA

Trenton NJ, Certified public accountants often hear objections about New Jersey’s high taxes from clients who are looking to leave New Jersey — and this past tax season was no exception, according to members of the New Jersey Society of Certified Public Accountants (NJCPA). And a Rutgers-Eagleton poll done in collaboration with the New Jersey Business & Industry Association (NJBIA) serves to underscore why.

Posted on May 6, 2019May 6, 2019 by James — 3 Comments

New Jersey Fireman’s Association Comments on Murphy Administrations Attempt to Divert Funds

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PFANJ Statement on Proposed $33M Fund Diversion from New Jersey State Fireman’s Association

Dear Brothers & Sisters,

As reported in NJ.com () on May 5, 2019, it appears that the Governor’s proposed budget for 2020 calls for $33 million to be siphoned from the New Jersey Fireman’s Association. This fund was established in 1885 to assist active and retired firefighters – paid or volunteer – during times of financial hardship or tragedy.

The State’s reasoning is that the fund is healthy and will still have plenty of money after the $33 million is removed. Respectfully, we all know how that worked out back in the 1990’s when the State siphoned money from the Police and Fire Retirement System!

We cannot let history repeat itself.

The State of New Jersey should learn from their prior mistakes – mistakes the pension fund (PFRS) are still suffering from today.

Dominick Marino
President
Professional Firefighters Association of New Jersey

Posted on May 5, 2019May 5, 2019 by James — 5 Comments

Upper Saddle River Police Issue Crime Alert

the staff of the Ridgewood blog

Upper Saddle River NJ, on May 3rd the Upper Saddle River Police department issued an important crime alert , warning residents of multiple car thefts off of East Saddle River Road ,where four vehicles were stolen , all by key fob left in the cars and one was one taken from a closed garage using a garage door opener left in an other car. A residential burglary and an attempted burglary were also reported , both occurred while residents were home.

Posted on May 2, 2019May 1, 2019 by James — 3 Comments

Memorial Day Weekend is just weeks away and so is Murphy’s New 11.625% Short Term Rental tax

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Ocean Township NJ, With Memorial Day Weekend and the unofficial start of the summer season just weeks away, Legislative District 11 General Assembly candidates Mike Amoroso and Matt Woolley are pressuring Democratic leadership in Trenton to repeal the 11.625 percent sales and occupancy taxes on homeowners – largely in coastal communities – who directly rent their properties during the summer season.

Posted on April 25, 2019April 24, 2019 by James — Leave a comment

Murphy’s bloated budget hurts over-taxed New Jerseyans

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the staff of the Ridgewood blog

HACKENSACK NJ,Following an invitation-only budget roundtable for elected Bergen County officials at Fairleigh Dickinson University’s Metropolitan Campus, Assemblymen Christopher P. DePhillips and Kevin J. Rooney slammed the Murphy administration’s runaway spending and tax increases.

“We can’t have any meaningful discussion around this budget without addressing spending cuts and tax cuts,” said DePhillips (R-Bergen). “Moreover, Trenton should be required to live within a two percent spending cap, just like every municipality in our state.”

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