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Posted on March 3, 2020 June 27, 2021

Increased Taxes and Spending Won’t Help New Jersey Grow

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By Tom Bracken and Michele Siekerka, Opportunity NJ

Trenton NJ, Governor Murphy’s recent Budget Address painted an optimistic picture of New Jersey’s current financial health and future prospects, declaring victory on goals that included “restoring fiscal responsibility” and “delivering property tax relief” as if the work were already done. While we appreciate the Governor’s commitment to business growth, workforce development, and investments in infrastructure, making New Jersey a competitive regional powerhouse means forging a difficult path ahead — and this budget proposal won’t get us there.

Continue reading Increased Taxes and Spending Won’t Help New Jersey Grow

Posted on February 29, 2020 March 20, 2020

GOP: Murphy’s 2021 budget is built on yet another income tax he’ll use to pay for his radical, liberal agenda

By Doug Steinhardt

When I was in law school, I played piano at local piano bars to help support myself. I’ve always been a jazz music fan, and one of my favorite quotes is from jazz pianist Thelonious Monk, who said, “The piano ain’t got no wrong notes.”

I always thought that wisdom liberating. It reminds me there is no script for creating or problem solving. It’s also a great measure of self-accountability. If Monk’s quote taught me anything it’s that in life, I’m my only obstacle. I never blame the piano if the song doesn’t sound right.

Continue reading GOP: Murphy’s 2021 budget is built on yet another income tax he’ll use to pay for his radical, liberal agenda

Posted on February 27, 2020 February 27, 2020

The Governor’s Budget Speech Did Not Contain Much the New Jersey Chamber of Commerce can Support

N.J. Chamber of Commerce President Tom Bracken

the staff of the Ridgewood blog

Ridgewood NJ, N.J. Chamber of Commerce President Tom Bracken pointed out facts on Phil Murphy’s catastrophic budget . In making this proposal, the Governor said there is no proof New Jersey’s highest bracket taxpayers are leaving the state. The study by Wealth X in 2019 showed very clearly that more than 5,000 residents with net worth over $1 million had fled New York and New Jersey in 2018.

N.J. Chamber of Commerce President Tom Bracken’s Statement on Governor Murphy’s Budget Address :

Continue reading The Governor’s Budget Speech Did Not Contain Much the New Jersey Chamber of Commerce can Support

Posted on February 26, 2020 February 26, 2020

Murphy’s Budget Represents an 18% Spending Increase in 3 Years

the staff of the Ridgewood blog

Trenton NJ, Assemblywomen Holly Schepisi roasts the Murphy budget :

“Today was Governor Murphy’s Budget Message. On its face someone could listen and say “I support that” or “I welcome the middle class relief” being proposed. Unfortunately our true middle class will never see any of the promised items put forth today. One can just look to one of the very first statements made during the speech that NJ is finally “putting the breaks on the financial roller coaster” we have been on. This statement is surreal in light of the fact that NJ has increased spending by $6.3 BILLION in just 3 years. This represents an 18% spending increase in a 3 year period. We are doubling down on spending practices that got our state into its current fiscal mess. We keep hearing the message of Fairer and Stronger for the middle class.

Continue reading Murphy’s Budget Represents an 18% Spending Increase in 3 Years

Posted on February 26, 2020 February 25, 2020

Murphy’s Massive Proposed FY 2021 Budget , Just More Taxes

the staff of the Ridgewood blog

Trenton NJ, NJBIA President and CEO Michele N. Siekerka, Esq. issued the following statement regarding Gov. Phil Murphy’s proposed FY 2021 budget today.

“NJBIA appreciates Governor Murphy’s efforts to prepare a state budget that makes investments in New Jersey’s future, particularly given our state’s considerable fiscal challenges. We support investments in NJ TRANSIT and workforce development proposed today, and await more details on potential public health benefits savings.

Continue reading Murphy’s Massive Proposed FY 2021 Budget , Just More Taxes

Posted on February 21, 2020 February 20, 2020

Taxes are the Root of New Jersey’s Problem

file photo Phil Murphy

Progressive Groups Looking for More, More, More

the staff of the Ridgewood blog

Trenton NJ, Senator Michael Testa called the $3 billion tax increase plan promoted this week by a coalition of progressive organizations “a recipe for disaster.”

Sen. Michael Testa derided a plan to increase taxes by $3 billion, floated this week by liberal organizations. ‘Taxes are the problem, not the solution,’ he said.

Continue reading Taxes are the Root of New Jersey’s Problem

Posted on February 3, 2020 February 2, 2020

Fleeing New Jersey for freer, and lower-tax places

for sale Ridgewood_Real_Estate_theRodgewopodblog

the staff of the Ridgewood blog

Ridgewood NJ, US households moving to freer, lower-tax places. The Internal Revenue Service (IRS) “Statistics of Income” division produces an annual report with valuable information for understanding interstate migration trends. The latest report was issued in early 2020, covering the latest available tax year (2018).

Continue reading Fleeing New Jersey for freer, and lower-tax places

Posted on August 11, 2019 August 10, 2019

Out of Touch Governor Waited Too Long to Provide Summer Rental Relief

the staff of the Ridgewood blog

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.

Posted on August 11, 2019 August 10, 2019

Finally Governor Murphy Signs Legislation Easing Taxation on Shore Rentals

photo by ArtChick

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.

Posted on August 8, 2019 August 8, 2019

Quinnipiac Poll: Post-Debate, Warren Up, Harris Down, Biden Leads and Booker flops

the staff of the Ridgewood bl;og

Ridgewood NJ, Massachusetts Sen. Elizabeth Warren is the big winner in the second round of Democratic presidential debates, but former Vice President Joseph Biden retains his front-runner status with 32 percent of Democrats and independent voters who lean Democratic, according to a Quinnipiac University National Poll released today.

Sen. Elizabeth Warren has 21 percent among Democrats, with 14 percent for Vermont Sen. Bernie Sanders and 7 percent for California Sen. Kamala Harris.

This compares to results of a July 29 survey by the independent Quinnipiac (KWIN-uh- pe-ack) University National Poll, showing Biden with 34 percent, Warren with 15 percent, Harris with 12 percent and Sanders with 11 percent.

Posted on August 7, 2019 August 7, 2019

Shore Rental Tax Relief Nowhere in Sight

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photo by William Thomas

the staff of the Ridgewood blog

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.

Posted on August 3, 2019 August 3, 2019

Newell Brands Maker of Sunbeam, Crock-Pot, Oster, Mr. Coffee, Yankee Candle Leaving New Jersey

the staff of the Ridgewood blog

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.

Posted on July 30, 2019 July 30, 2019

The New Jersey Business & Industry Association: it is paramount New Jersey puts a strong tax incentive program in place to attract and retain business

the staff of the Ridgewood blog

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.

Posted on July 30, 2019 July 30, 2019

President of the Commerce and Industry Association of New Jersey ,”It is time to focus on passing laws which help businesses”

the staff of the Ridgewood blog

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.

Posted on July 26, 2019 July 26, 2019

New Jersey Society of CPAs Reminds Taxpayers to Check Tax Withholding Amid Pending IRS W-4 Form Changes

the staff of the Ridgewood blog

Ridgewood NJ, The New Jersey Society of Certified Public Accountants (NJCPA) reminds taxpayers to review their current federal income tax withholding from their paychecks, particularly as the IRS is issuing a new Employee’s Withholding Allowance Certificate (Form W-4). The IRS issued a draft 2020 Form W-4 in May and expects to issue a final version in November.