FOR IMMEDIATE RELEASE: JUNE 30, 2018
Contact: Louis Di Paolo (NJPP): (201) 417-5049 (cell) or firstname.lastname@example.org
See below for a statement from New Jersey Policy Perspective President Gordon MacInnes in response to tonight’s deal on the fiscal year 2019 budget.
That said, it is encouraging that Governor Murphy agrees that expanding combined reporting is an essential part of the corporate business tax increase as it will stop corporations from moving taxable income out of state. The inclusion of a $750 million surplus is a necessary step to rebuilding the state’s fiscal reserves.
Moving forward, the legislature must remind itself of our state’s incomparable assets – location, a highly educated workforce, a strong transportation network, great public schools – and stop short-changing New Jersey’s future. The last eight years have proven that New Jersey’s budgeting process is unsustainable, governed as it is by politics and showmanship that block out essential, overdue investments.