TRENTON, N.J. – Assemblyman Jay Webber, a member of the Assembly Financial Institutions and Insurance Committee, issued a statement after the committee held a hearing on a proposed tax on financial transactions, such as electronic stock trades.
“Today’s Assembly Financial Institutions Committee makes clear that the last thing New Jersey should do is lay yet another tax on the backs of taxpayers and the thriving industries that employ them. The proposed financial transactions tax, in whatever amount or duration, will drive jobs out of the state and diminish the saving and investing power of pension funds, 401(k)s, and education savings accounts. New Jersey should stop threatening productive and important businesses with tax hikes, and focus instead on reforming government and growing our economy.”