The Governors State of the State message, another brew of New Jersey Stuck on Stupid Economics

the staff of the Ridgewood blog

Trenton NJ, The Governors State of the State message  was just another brew of New Jersey Stuck on Stupid Economics . The governor once again continued to promote his vision of a “fairer and stronger” economy, with the answer to everything being to raise taxes . Our question is once again fairer for who?,strong for who?  He of course  failed to address the “pension black hole ” , and reigning in the idiotic spending and regulatory over reach in the state, leading to the current affordability crisis.

The Murphy agenda seems to be drive all the business out of the state , and replace residents will illegals and criminals .

The massive numbers of Garden Stater’s fleeing the state or looking to flee the state in the next 5 years taking their assets and spending power with them guaranteeing to make matters far worse . Nothing said in the state of the state would make anyone change their mind . Its just the same old same old from the state house .Begging the question; will the state survive two more years of Phil Murphy and his Stuck on Stupid Economics.

Republican State Committee Chairman Doug Steinhardt said ,“New Jersey is in the throes of an affordability crisis and Trenton Democrats are tone deaf to its residents’ needs. For two years in a row, New Jersey leads the nation in the outmigration of people and jobs. Our kids can’t afford to start their lives here and our parents can’t afford to retire here. Meanwhile every debate out of Democrat controlled Trenton is over which tax to raise and by how much. New Jersey needs to live within its means. The solutions Republicans are offering will allow families to live here, not force them to leave.”

New Jersey Business & Industry Association President CEO Michele N. Siekerka, Esq. issued the following statement in response to today’s State of the State address by Gov. Phil Murphy.
“As we embark on a new decade, we can all support a New Jersey where everyone has the greatest opportunity to succeed.
“Through the midpoint of his term, Governor Murphy has defined his mission for a ‘stronger and fairer’ economy. Part of the fulfillment of this calling has been a focus on returning New Jersey to its status as the Innovation State, and positive steps to foster workforce development.
“We commend the governor for these efforts, and we look forward to learning more about Jobs NJ as its mission aligns with our continued workforce development efforts.
“The major issues that remain for New Jersey, however, are escalating taxes, untenable increases in spending, deepening fiscal deficits and a worsening business climate. For the sake of our affordability and competitiveness, New Jersey needs to reverse course on each of these issues.
“New taxes of any kind will not address or solve New Jersey’s structural challenges. We simply cannot tax ourselves out of our pension liability and post-employment benefit obligations. New Jersey desperately needs a commitment to impactful fiscal reforms to ensure a stable future, instead of continued, excessive taxation heaped upon overburdened residents and businesses.
“Re-authorizing a new tax incentive program is the next big step, and it’s one Governor Murphy and the Legislature must take together. This urgency cannot be overstated. It should have appropriate oversight and regular reviews of effectiveness. But it also should be a strong, robust program to give New Jersey the competitive boost it sorely lacks right now.
“Absent a strong economic incentive program, New Jersey cannot level a playing field mined with excessive taxes and costs.”

Garden State Initiative (GSI) president Regina M. Egea issued the following statement in response to Governor Phil Murphy’s State of the State Address:

“The Governor’s Address, in contrast to his stated intent, did not confront the root cause of high property taxes – our government spends too much. Increasing “state aid” does not fix the problem, it only masks it. It’s the fiscal equivalent of treating a broken bone with an aspirin.

The Governor, while talking of savings on health benefits, needs to look no further than the recent ProPublica report which identified $500 million in savings without affecting the quality of care. Savings, which can be passed on to taxpayers are right in front of us – only if our leaders are willing to look for them.

When will New Jersey’s property taxpayers see an honest to goodness tax reduction?”

NFIB, the leading small business association in New Jersey advocating for thousands of members across the state, reacted to Governor Phil Murphy’s State of the State Address. The following comments may be attributed to NFIB State Director, Eileen Kean says ,“The Governor’s proposal for a Millionaires’ Tax would negatively impact many small businesses even though most of those owners are far from being millionaires. Frequently, small business owners sell their business to use as their retirement nest egg. The one-time proceeds may well rise above a million dollars, subjecting those hard-earned savings to ridiculously high taxes. It could also impact small businesses formed as pass-through entities, whose owners file business taxes on their personal income tax form—unfairly sending them into that higher bracket.”

But added ,“The Governor’s desire to address the difficulty that companies have finding qualified workers for the available jobs should be applauded. That has been the number one concern for small businesses for several years now as the economy improved. But the rising cost of doing business in New Jersey due to ever-increasing taxes and costly labor mandates has kept small businesses back. It’s hard to grow and create new jobs in that environment.”

N.J. Chamber of Commerce President Tom Bracken on State of the State Address said, “In Gov. Phil Murphy’s State of the State address today, he continued to promote his vision of a “fairer and stronger” economy.While we can all support the concept of a “fairer and stronger” economy, the social programs that comprise the “fairer” economy must be paid for by the economic progress of a stronger business climate.

The New Jersey Chamber of Commerce supports the Governor’s call for smart infrastructure spending, more responsible fiscal management in Trenton, increased shared services and investments in workforce development and education.The Governor was correct to cite the concerns of business executives who need qualified workers, and we are anxious to hear more about the Governor’s initiatives in this area, including Jobs NJ.

However, the Governor did not address the single largest issue preventing us from generating the “stronger” economy we all want – New Jersey’s affordability and competitiveness.The Governor again advocated for more taxes in a state with a business climate ranked dead last by the Tax Institute because we already have the nation’s highest tax burden.

For New Jersey to develop a “stronger” economy to support the “fairer” economy, we need to do more to reduce our tax burden and end the constant and costly mandates imposed on our businesses.”