TRENTON, N.J. – Assemblyman Christopher DePhillips denounced Gov. Phil Murphy’s rebranded corporate surtax, announced as a transit fee in Tuesday’s budget message, and said applying it to higher earning businesses will still have devastating consequences for the state’s economy. “Make no mistake, this so-called transit fee is the corporate...
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TRENTON, N.J. – Assembly Republican Leader John DiMaio and Conference Leader Christopher DePhillips denounced balancing the state budget through tax and fare hikes in advance of Gov. Phil Murphy’s seventh budget message on Thursday. A budget deficit, shrinking tax revenue, inflation and a loss of federal aid has Democrats...
TRENTON, N.J. – The top Democrat in the Senate last week suggested extending a corporate surtax during the lame duck session to fund NJ Transit, which Assemblyman Christopher DePhillips called predictable, but devastating for New Jersey’s economy. DePhillips, a longtime sponsor of legislation to cut the corporate business tax,...
TRENTON, N.J. – Assembly Republican Leader John DiMaio was named Legislator of the Year by the New Jersey Chamber of Commerce at its biannual legislative and business awards reception Wednesday at the Manasquan River Golf Club in Brielle. “I have a unique understanding of the challenges and benefits of...
TRENTON, N.J. – Assemblyman Christopher DePhillips has long argued that New Jersey’s nation-high corporate tax rate contributes to outmigration. The latest figures from the U.S. Census Bureau support his point – residents are leaving New Jersey to live in states with lower taxes like Florida, Texas and South Carolina....
TRENTON, N.J. – Assemblyman Christopher DePhillips is challenging Gov. Phil Murphy’s misleading claims that his fiscal year 2024 budget proposal cuts taxes by allowing the corporate business tax surcharge to sunset. “Governor Murphy is taking a victory lap for following the law to drop the surcharge on corporations at...
TRENTON, N.J. – For the sixth year in a row, the Tax Foundation ranked New Jersey last for overall business tax climate in their 2023 report –an annual index that shows how well states are structuring their tax systems. Assemblyman Christopher DePhillips, a longtime advocate for corporate tax reform,...
TRENTON, N.J. – A Democrat proposal giving a government-created board the ability to control prescription drug prices in New Jersey will not help patients, but will destroy the state’s acclaimed life sciences industry, says Assemblyman Christopher DePhillips. “New Jersey, which is home to 14 of the world’s 20 largest...
TRENTON, N.J. – Pennsylvania’s corporate tax cut must be a catalyst for change in New Jersey, says Assemblyman Christopher DePhillips. The lawmaker is calling on legislative leadership to prioritize his bill to lower New Jersey’s highest-in-the-nation 11.5% corporate business tax rate before companies, jobs and families move to the...
TRENTON, N.J. – New Jersey is in even better financial shape than first thought, with billions more in surplus than anticipated in Gov. Phil Murphy’s proposed FY2023 budget. As such, Assemblyman Christopher DePhillips is calling for the governor and legislature to provide New Jerseyans tax relief in this year’s budget....