PATERSON, N.J. – Assemblyman Kevin J. Rooney warned the state’s economy is in danger without meaningful spending cuts after attending Gov. Phil Murphy’s invitation-only budget roundtable for Passaic County elected officials.
“The governor is doing the same old song-and-dance and spending millions of dollars the state doesn’t have,” said Rooney (R-Bergen). “The administration’s insatiable appetite for spending will decimate our state. Exasperated taxpayers are throwing in the towel and moving away because they can’t take it anymore. Rather than touting costly initiatives that increase taxes and the state debt, Trenton should be slashing spending and rolling back taxes so New Jerseyans can afford to live, work and retire in the state.”
Murphy’s budget spends almost $4 billion more than Gov. Christie’s final budget, significantly increasing the burden on taxpayers in the most-taxed state in the nation.
A poll for NJBIA by Rutgers-Eagleton found that 75 percent of certified public accountants have advised some clients to relocate their homes or businesses to more tax-friendly states.
“It’s irresponsible to continue down this road,” said Rooney. “Murphy’s destructive tax-and-spend tactics are unsustainable. The state’s pension and benefits liability is almost four times the annual budget at $151.6 billion, but the governor ignores this ticking time bomb to increase state spending and push free community college. You can’t keep raising taxes and expect hard-working people to suffer in silence when they can move across the state line.”
The overwhelming majority of residents (82 percent) polled for NJBIA said they are overburdened by taxes. Nearly half the public (45 percent) identify property taxes as the most important issues facing New Jersey, according to a Monmouth University poll. New Jerseyans pay the highest property taxes in the nation.