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New Jersey Society of Certified Public Accountants Issues Ominous Warning on Governor Murphy’s Proposed FY2020 Budget

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the staff of the Ridewood blog

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

The headlines are bleak and all too familiar:

  • “New Jersey’s Budget Mess is Getting Even Worse” (March 4, 2019, Bloomberg)
  • “New Jersey Governor Again Seeks Higher Taxes on Wealthy” (March 4, 2019, Wall Street Journal)
  • “On the budget, Governor Murphy’s not being fair to the English language” (March 5, 2019, NJ.com)

The message is clear: New Jersey is facing a fiscal crisis, and we are not committing ourselves to the difficult decisions that will put the state on sound financial footing. While the New Jersey Society of Certified Public Accountants (NJCPA) commends Governor Murphy for addressing issues such as health care spending, high property taxes and the growth of small businesses in his budget presentation, there’s more work to be done.

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Jersey Shore community says that paying seasonal workers $15 per hour as minimum wage will hurt the town and drive up prices

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the staff of the Ridgewood blog

Toms River  NJ, News 12 New Jersey is reporting that the mayor of a Jersey Shore community says that paying seasonal workers $15 per hour as minimum wage will hurt the town and drive up prices.While New Jersey’s economically challenged Gov. Phil Murphy signed legislation earlier this year to increase the minimum wage to $15 per hour over the course of the next five years. The governor has said that a higher minimum wage will strengthen the middle class and give security to working families. The reality is middle class families try to send their kids to collage or  trade school  so they don’t have to work for minimum wage . The minimum wage is for starter jobs and part time jobs raising the bar eliminates those jobs , skills and work ethic that go along with them .

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Governors Budget Address No Relief for the Middle Class

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the staff of the Ridgewood blog

Trenton NJ, State Senator Joe Pennacchio (R-26) offered the following appraisal of Governor Phil Murphy’s 2020 budget address:

“Governor Murphy is trying to manage the budget with phantom numbers. This isn’t monopoly money. Governor: get your hands out of our pockets. Taxpayers have had enough and state spending is out of control.

“New Jersey has the worst business climate and the highest property taxes in the nation and these new taxes will push even more job creators out of state. Last year, Governor Murphy’s proposed tax hikes were so egregious, that even his fellow Democrats couldn’t stomach them. Nothing has changed. Don’t be surprised if the government shuts down.

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GOP Chairman Steinhardt, ” When politicians say they will raise taxes on the wealthy, they always end up raising taxes on the middle and working classes “

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the staff of the Ridgewood blog

Trenton NJ, GOP Chairman Steinhardt’s Statement on the Murphy Budget Address : Winston Churchill said it best. “An appeaser is one who feeds a crocodile, hoping it will eat him last.”  When politicians say they will raise taxes on the wealthy, they always end up raising taxes on the middle and working classes, too.

Just last year, Phil Murphy and the Democrats set the bar for their Success Tax at $5M in income. Sounds like a lot, doesn’t it? But, one year later, these same Democrats redefine success as any family making more than $1M a year. Still sounds like a lot, I know. But, that’s an 80% drop from last year, and if the Democrats keep feeding and growing State government, you’re next.

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Senate President Steve Sweeney Opposes Proposed Tax Increases

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the staff of the Ridgewood blog

Trenton NJ, Senate President Steve Sweeney issued the following statement today in response to the budget proposal offered by Governor Phil Murphy:

“This is a positive budget plan that takes meaningful steps in the right direction, but I remain opposed to the proposed tax increase.  I welcome the Governor’s willingness to work with the Legislature in a constructive and cooperative way.

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Stuck on Stupid Millionaires Tax: Chasing the Bill Payers Out of the State

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the staff of the Ridgewood blog

Ridgewood NJ, New jersey economic policy is truly stuck on stupid . 40 years of failure and New Jersey wants to keep doing the same thing till they get it right. Fair and Necessary more like just plain stupid .New Jersey Policy Perspective Senior Policy Analyst Sheila Reynertson in response to reports that Governor Murphy will propose a 10.75 percent tax rate on income tax earners over $1 million in tomorrow’s FY 2020 budget address.

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Murphy Budget Raids Environmental Settlements

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the staff of the Ridgewood blog

Trenton NJ, The proposed FY2020 budget is coming out on Tuesday. Governor Murphy’s budget FY2019, DEP saw a decrease in overall budget while operations went up slightly. The Clean Energy Fund was also raided by $160 million from its previous budget year. NRD money from the Exxon and Volkswagen Settlement were also used for the general budget, however Murphy cannot use NRD money to balance the FY 2020 budget.

“Last year’s budget was balanced on the backs of the environment, we concerned about this year’s proposed budget will do the same. FY2020 is coming out and there may be cuts or money grabbed to plug budget holes. Last year the Murphy Administration took close to $500 million from environmental programs to balance the budget. This year, the Murphy Administration have already committed to taking $140 million form the Clean Energy Fund and given the problems, it could mean more. Now since Murphy cannot grab NRD money anymore, DEP’s budget may be targeted along with other environmental monies,” said Jeff Tittel, Director of the New Jersey Sierra Club.

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Governor Murphy to Deliver Fiscal Year 2020 Budget Address

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the staff of the Ridgewood blog

Trenton NJ, with a massive budget short fall and even his own party talking about spending cuts and no more broad based tax increases .

Fiscally challenged Governor Phil Murphy will deliver his Fiscal Year 2020 Budget Address in the Assembly Chamber at the New Jersey State House at 2:00 p.m. on Tuesday, March 5, 2019.

Who/What: Governor Phil Murphy to Deliver Fiscal Year 2020 Budget Address

When: 2:00 p.m., Tuesday, March 5, 2019

Where: Assembly Chambers, New Jersey State House, 125 West State Street, Trenton, NJ

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Governor Murphy and the Murphy Administration Urge Residents to Prepare for Latest Winter Storm

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the staff of the Ridgewood blog

Ridgewood NJ, Governor Phil Murphy and the Murphy Administration are asking New Jersey residents to prepare for a winter storm that will affect the area throughout the day and into tonight. Colonel Patrick Callahan and the New Jersey State Police have activated the State Emergency Operations Center to monitor the winter storm conditions expected to last through tonight.

The New Jersey Office of Emergency Management (NJOEM) has been in contact with all 21 county emergency management offices, and members of the Emergency Response Bureau are working with their counties to address any storm-related needs. State emergency management partners have been notified and will continue to coordinate with NJOEM on any traffic and power concerns, and the New Jersey Department of Transportation and its contractors activated this morning with up to 2,500 plows and spreaders available to keep State highways clear and safe for motorists.

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Overnight parking on the street will not be allowed tonight, Sunday, March 3, 2019 in Ridgewood

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the staff of the Ridgewood blog

Ridgewood NJ, In preparation for winter weather conditions, Governor Phil Murphy has declared a State of Emergency throughout New Jersey starting at 3:00 PM today so that state resources can be deployed as needed.

Today’s weather will turn cloudy, with rain expected by early this evening, which will quickly turn to snow.  The heaviest snowfall is expected from 9:00 p.m. Sunday to 4:00 a.m. Monday, with possible accumulations of five to eight inches.  Please stay off of the roads to allow our crews to do their snowplowing work.

Overnight parking on the street will not be allowed tonight, Sunday, March 3, 2019.

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Reader says , Phil “Murphy is destroying the future of New Jersey”

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Common sense and fiscally responsible management of spending with strict restraints
are things the Governor and Trenton Democrats are just incapable of doing! Murphy continues to buy the favor of those in America illegally with things like sanctuary cities & 2yrs of free Community College for them while burdening those cost on the backs of citizens & those legally here. In many case those paying for Murphy’s betrayal to us.. can’t even afford to pay for their own children’s college!! Then there’s the tax on rentals at the Jersey Shore… cutting the legs out from under all those board walk shops & house rentals!!

Murphy is destroying the future of New Jersey … Even more sick.. is the fact the Trenton Democrats are all helping him do it!!

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NJ Budget Prognosis is Not Good

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the staff of the Ridgewood blog

TRENTON NJ, With revenues falling below expectations and spending holding steady, the state is in catch-up mode once again.  Governor Murphy is scheduled to give his budget message on Tuesday, and his administration has been sanguine about New Jersey’s revenue shortfall.  Assemblyman John DiMaio, the Republican budget officer, is not in denial – saying the prognosis is not good.

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BIPARTISAN BILL WOULD ELIMINATE CORRUPT SCHOOLS DEVELOPMENT AUTHORITY

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the staff of the Ridgewood blog

TRENTON NJ, Under fire for its nepotistic hiring practices, the Schools Development Authority would be eliminated under a new bill sponsored by Assemblyman Christopher DePhillips. The bill (A4908) would transfer the agency’s functions to the Economic Development Authority, which already provides the financing for school construction.

“This latest S.D.A. hiring scandal proves beyond a shadow of a doubt that Trenton needs to take an entirely new approach to our school construction dollars. The S.D.A. has lost the trust of the people of New Jersey, and the taxpayers must be protected against further mismanagement and corrupt hiring practices,” said DePhillips (R-Bergen). “It is time for the Assembly to take up my bi-partisan legislation to abolish the S.D.A. and consolidate its functions within the E.D.A.”

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Rooney seeks answers to questionable Murphy hires at Schools Development Authority

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the staff of the Ridgewood blog

WAYNE NJ, Assemblyman Kevin J. Rooney has filed an Open Public Records request seeking answers to the questions about the qualifications of new hires at the Schools Development Authority.

A NorthJersey.com report this week outlined how the chief executive officer of the Schools Development Authority hired 38 new people since August, some for higher salaries than the workers who were replaced even though they were inexperienced.

“The Murphy administration’s hiring practices continue to be problematic and need to be fully vetted,” said Rooney (R-Bergen).  “Governor Murphy has tried to represent himself as an outsider in a state notorious for its corruption.  But he hasn’t done a good job keeping good company.  He surrounds himself with cronies who have their own cronies.”

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Murphy & NJ Democrats Perpetuate a Fiscal Mess

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the staff of the Ridgewood blog

Trenton NJ, Senator Joe Pennacchio (R-26) warned that Governor Phil Murphy and New Jersey Democrats haven’t learned from their mistakes and are doubling-down on failed fiscal policies that are driving residents and jobs from the Garden State.

“Governor Cuomo recently admitted that high taxes are driving residents from New York, leading to budget deficits and the flight of residents from the Empire State,” said Pennacchio. “Unfortunately, Governor Murphy and New Jersey Democrats still haven’t learned from their mistakes. They’re doubling down on tax-hiking policies that have never worked, and New Jersey is doing worse than our neighbors and most of the nation as a result.”

The budget that was approved last year by the Democratic Legislature and signed into law by Governor Murphy raised taxes by $1.5 billion. It is dependent on revenues growing by 7.5 percent over the course of the fiscal year to stay in the black.

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