Archive for Tag: taxes

New Jersey’s dead-last business ranking demands legislative fix, says DePhillips

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,...

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Video: Why is NJ so damn expensive? Murphy administration making more residents low-income

TRENTON, N.J. – Assembly Republicans explain how the cost of living increases under Gov. Phil Murphy are making more New Jersey residents low-income in the latest episode of “<Three” released Wednesday. Despite touting a ‘stronger and fairer New Jersey,’ 80% of the taxes Murphy has raised since taking office...

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Budget signing signifies a worse-off New Jersey, says Assembly GOP Leader

TRENTON, N.J. – Assembly Republican Leader John DiMaio has been critical of the budget, and again pointed out that the state budget is full of tax relief gimmicks and unsustainable spending as Gov. Phil Murphy signed the $50.6 billion fiscal year 2023 budget. “Governor Murphy likes to say this...

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Debt soaring under Murphy, report shows

TRENTON, N.J. – The state’s annual Comprehensive Financial Report for fiscal year 2021 was released Wednesday, which shows New Jersey’s debt for pensions and health benefits is soaring despite rhetoric to the contrary from the Murphy administration.  “This goes to show that everything the Governor and his administration have...

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DiMaio criticizes Coughlin’s tax relief proposal as another government gimmick, says N.J. needs tax cuts

TRENTON, N.J. – Assembly Republican Leader John DiMaio was critical of Speaker Craig Coughlin’s statement promising to use the surging surplus to fund the ‘largest tax relief program in state history’ as another short-term government gimmick that does little to address the root causes of New Jersey’s affordability crisis. “A...

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Upcoming budget address predictable, says Wirths

TRENTON, N.J. – The unprecedented two-week delay Gov. Phil Murphy requested to deliver his budget message won’t change the result much according to Assemblyman Hal Wirths, the Assembly Republican budget officer. “Murphy will possibly announce three or four billion dollars in unexpected revenue because he and the Democrats have...

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Bramnick: Stock exchange tax won’t raise revenue if transactions leave New Jersey

TRENTON, N.J. – Assemblyman Republican Leader Jon Bramnick criticized a proposed new tax on financial transactions heard in the Assembly Financial Institutions and Insurance Committee Monday. He pointed out that if the stock exchange follows through on its threat to leave, New Jersey will lose revenue. “The more we...

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Bramnick: With stock exchange tax, New Jersey faces losses

TRENTON, N.J. – Assembly Republican Leader Jon Bramnick warned Gov. Phil Murphy not to test the stock exchange’s reaction to his proposed new tax on financial transactions. “The governor is discussing a new tax on financial transactions,” said Bramnick (R-Union). “This tax will cause the financial industry to move...

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Bramnick schools Murphy for bringing home ‘F’ on fiscal-policy report card

TRENTON, N.J. – Assembly Republican Leader Jon Bramnick pointed to a Cato Institute report card released Monday that ranked Gov. Phil Murphy among the worst seven governors in the United States when it comes to fiscal management. The report, entitled the Fiscal Policy Report Card on America’s Governors 2020,...

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