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NJCPA “Ignoring businesses does not help low- and middle-class New Jerseyans”

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the staff of the Ridgewood blog

Roseland NJ, This afternoon, Governor Phil Murphy delivered his budget proposal for New Jersey’s 2023 fiscal year which begins July 1. We applaud the Governor for proposing a budget that includes no tax increases or new fees. The NJCPA also commends Governor Murphy for once again including a full payment to the public worker pension fund, though structural reform to public worker benefits is necessary to end the ballooning burden of these benefits on the state budget. We also applaud the Governor for making a large allocation to debt defeasance.

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Governor Murphy’s Ponzi Scheme Called Premature, Excessive and Unconstitutional

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the staff of the Ridgewood blog

Trenton NJ,Senator Anthony M. Bucco raised serious concerns about Governor Phil Murphy’s plan to borrow as much as $14 billion to fund government spending.

“Given his failure to consider fiscally responsible alternatives to balance the State budget, Governor Murphy’s borrowing scheme is premature, excessive, and almost certainly unconstitutional,” said Bucco (R-25). “When the State is already drowning in debt, New Jersey taxpayers cannot afford to give the Governor the blank check he’s demanding.”

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Murphy Budget fails to provide funding to meet the increased spending obligations triggered by new minimum wage policy

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the staff of the Ridgewood blog

Trenton NJ, Sen. Declan O’Scanlon (R-Monmouth) released the following statement on Governor Murphy’s “shocking failure” to live up to his own minimum wage promise, noting that the proposed budget fails to provide the essential funding called for by the Governor:

“Just a month ago the Governor patted himself on the back as he signed the minimum wage increase bill. During today’s Senate Budget hearing, we learned that incredibly, while he was preparing this budget, the Governor failed to provide the very funding necessary to meet the increased spending obligations triggered by his new minimum wage policy,” O’Scanlon said.

Continue reading Murphy Budget fails to provide funding to meet the increased spending obligations triggered by new minimum wage policy
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Americans for Prosperity FY 2017 Taxpayers’ Budget!

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the staff of the Ridgewood blog

Ridgewood NJ, Americans for Prosperity’s vision for our great state is one where opportunity abounds, our economy is flourishing and all of our residents have the ability to prosper and make a better life for themselves and their families. Americans for Prosperity is as committed as ever to turning our state around and making this vision a reality. That’s why for the second time in the last five years, AFP is proud to release a model budget — our FY 2017 Taxpayers’ Budget — providing a blueprint for getting our state back on track.

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Assemblyman Kevin J. Rooney ,”New Jersey’s Democrats can’t even agree on how much to increase spending and how much to raise taxes; meanwhile the state careens ever faster toward financial disaster”

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Let me try to put this year’s state budget insanity into perspective. Last year the Democrat Legislature shutdown the government because they were fighting over a $34.7 billion dollar spending plan, and this year they are fighting with Democrat Governor Phil Murphy over two spending plans: their plan to spend $36.5 billion and Murphy’s plan of $37.4 billion. Except this time it is over which taxes to hike to fund their irresponsible spending increase.

New Jersey’s Democrats can’t even agree on how much to increase spending and how much to raise taxes; meanwhile the state careens ever faster toward financial disaster. New Jersey has had more people move-out the past six years than any other state in the nation because housing costs and taxes are sky-high, which makes me ponder when New Jersey Democrats will stop the insanity.

Assemblyman Kevin J. Rooney

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Shutdown More likely as Democrats Split on State Budget

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June 22,2018

the staff of the Ridgewood blog

Trenton NJ, late afternoon meetings gave some hope that a budget deal would be reached , the Democratic controlled legislature will now move forward with its own budget.

Talks with the Governor appear to have collapsed for the moment.

“The Governor’s doing a press conference alone, that should tell you something,” a statehouse source said and at the press conference Governor Phil Murphy to blame the Christie Administration, saying ,”Unfortunately the legislature seems intent on keeping the legacy of Chris Christie intact in Trenton,”

Speaker Craig Coughlin went back to his caucus to report the news were he told his members he’s going forward with the alternative budget pushed by state Democrats .

For their part Assembly Republican Leader Jon Bramnick and Assemblyman Tony Bucco said , “Our caucus is united,We won’t vote for a tax increase. [They] can call it anything they want.

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Governor Murphy orders New Jersey’s State Agencies to prepare for a State Government Shutdown

Phill Murphy -Sara Medina del Castillo

June 2,2018

the staff of the Ridgewood blog

Trenton NJ, Governor Phil Murphy’s administration put New Jersey’s state agencies on notice Friday that they should prepare for another state government shutdown if a state budget isn’t signed by the June 30 deadline.

In a letter to Murphy’s cabinet members, the Governor , asked them to update shut down contingency plans for their departments.

The letter : https://www.documentcloud.org/documents/4491799-GovtShutdown-MEMO.html

 

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Stuck on Stupid :N.J. economy not generating big bucks in state budget, lawmakers told

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stooges

Stuck on Stupid :N.J. economy not generating big bucks in state budget, lawmakers told
By Samantha Marcus | NJ Advance Media for NJ.com

TRENTON — New Jersey’s mediocre economic recovery has the state Legislature’s financial analysts betting low on how much money the state will take in next year.

But that doesn’t mean there will be another big battle between the Legislature and Gov. Chris Christie’s office over revenue forecasts this year.

The nonpartisan Office of Legislative Services, known in recent years for offering a sobering take on the state’s tax collections that challenge the Christie administration’s more optimistic estimates, suggested there will be no such conflict this year.

“I am pleased that this year’s budget discussions will not feature a clash of conflicting revenue forecasts,” David Rosen, the Legislature’s budget and finance officer, told the state Assembly Budget Committee this morning. “The OLS believes the executive’s forecasts are reasonable.”

https://www.nj.com/politics/index.ssf/2015/03/nj_economy_not_generating_big_bucks_state_budget_l.html#incart_river

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Are You Dumb Enough to Trade $10 Billion for $560 Million?

 

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Are You Dumb Enough to Trade $10 Billion for $560 Million?
Jun. 25 s 
By Irwin M. Fletcher | The Save Jersey Blog

Author’s Note: I’m not THAT dumb, Save Jerseyans.

Why do we ALWAYS have the same argument over a millionaires tax?

Scratch that, Save Jerseyans. Why do Democrats and newspaper editors, aka Harry & Lloyd, our friends from Dumb and Dumber, ALWAYS ignore the facts of this argument? I’m getting sick and tired of the facts staring them right in the face and then, instead of responding to logic and reason, they lie to our faces. When they say that people do not leave, that people do not flee a state when they institute a millionaires tax, grab a fire extinguisher, aim it at their pants and get ready to pull the pin.

Wealth flees, Save Jerseyans. Wealth flees. And here is what the FACTS tell us what happens when a state, any state, raises its millionaires tax.

In the first fiscal year they are enacted, taxes generally raise anywhere from 90 to 95% of the publicly estimated revenue to be raised. Sometimes it is more, sometimes it is less. This occurs for 3 main reasons: 1) They are usually retroactive for the current fiscal year, and since DeLoreans don’t come standard with flux capacitors, taxpayers can’t do much about avoiding taxes in June on income already earned 6 months ago in January; 2) Moving/fleeing doesn’t happen overnight. While millionaires have the resources to leave the state due to taxes, it takes some time. So while they cut through the red tape, their income stays and is taxed at the new higher rate; 3) The projections employed are usually the rosy best case scenario ones to make the TV sound bite better. $600 million sounds better than $500 million when you’re trying to close a budget gap. But the best case scenario is hardly ever the real case scenario.

It is also a fact that after the fiscal year of implementation, tax revenues come nowhere near projections. Nowhere near. The first years collections are a one-time windfall. Revenues fall drastically in year two. The funds that the millionaires tax was supposed to raise aren’t materializing. Not there. Year three, the gap between projected tax revenues and collected revenues is even bigger! Heck, sometimes it’s BELOW then where they started three years ago! States are collecting less income taxes than before their millionaires tax! By year four and year five, the tax revenue situation is so bad that Harry & Lloyd start up the same argument again.

– See more at: https://savejersey.com/2014/06/millionaire-tax-state-budget-analysis/#sthash.1Mv0P16u.dpuf

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Time for Significant Budget Cuts : NJ revenue shortfall may now be more than $400 million

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Time for Significant Budget Cuts : NJ revenue shortfall may now be more than $400 million
FRIDAY, FEBRUARY 21, 2014    LAST UPDATED: FRIDAY FEBRUARY 21, 2014, 11:31 PM
BY  JOHN REITMEYER
STATE HO– USE BUREAU
THE RECORD

Governor Christie’s budget is facing a shortfall of more than $400 million, a deficit that could cause him to make midyear cuts to the current $33 billion spending plan just as he prepares to pitch his latest state budget on Tuesday.A memo from the Office of Legislative Services obtained by The Record on Friday showed the growing shortfall.

Assembly Budget Committee Chairman Gary Schaer, D-Passaic, said he’s “deeply concerned” the shortfall could mean midyear cuts are coming that could affect New Jersey’s working families. Christie will address the revenue and budget issues in more detail during his address to the Legislature on Tuesday, a spokesman said.

“I sincerely hope the governor’s speech on Tuesday is an honest discussion about the budget problems New Jersey faces,” Schaer said.

Senate Budget and Appropriations Chairman Paul Sarlo, D-Wood-Ridge, said the revenue problems are setting the table for tough budget negotiations leading up to the start of the new state fiscal year on July 1.

“Difficult decisions need to be made,” Sarlo said.

– See more at: https://www.northjersey.com/news/recordpolitics/NJ_revenue_shortfall_may_now_be_over_400_million_.html#sthash.rIfSCP8R.dpu