The New Jersey Chamber of Commerce is pleased that Gov. Murphy has introduced a budget that includes no new taxes and fees. We particularly commend the governor for reiterating his promise to allow the Corporation Business Tax (CBT) surcharge to sunset at the end of 2023. Now it is up to the members of the Legislature to do the right thing and pass this in June. The governor’s position on this is correct. It will help make the state more competitive and more affordable. It will also demonstrate that our leaders honor their commitments, which results in the reliability that businesses seek. Still, even after the CBT surcharge expires, New Jersey will have fourth highest CBT rate in the nation, which should be targeted for further reductions.

It will include pure networking where you can eat, drink and exchange business cards

As you may already know, our ReNew Jersey Business Summit & Expo is fast approaching on March 14 and 15 at Harrah’s Resort Atlantic City – and we need you there! This will be the Chamber’s biggest and most important event of the year, and a big turnout is critical to its success. The Summit will be attended by hundreds of business, nonprofit and government leaders to discuss and explore ways New Jersey can best position itself for a bright economic future.

The In-Person Summit will Feature a Two-Day General Session of Interactive Discussions about How to Boost New Jersey's Economy

#ReNewJersey 

The New Jersey Chamber of Commerce is calling out members of the 'For the Many NJ' coalition for asking Gov. Murphy and the Legislature to renege on the state’s promise to sunset the Corporation Business Tax (CBT) surcharge at the end of 2023. The coalition is wrong on so many levels, the N.J. Chamber said.

The New Jersey Chamber of Commerce strongly disagrees with recent comments criticizing Gov. Murphy’s verbal support of ending the state Corporation Business Tax (CBT) surcharge when it expires at the end of 2023. We applaud him for taking this position, especially since the CBT surcharge was already extended once.

 The New Jersey Chamber of Commerce applauds Gov. Murphy’s recent comments supporting Senate Budget Committee Chair Paul Sarlo’s proposal to end the state Corporation Business Tax (CBT) surcharge when it expires at the end of 2023. The governor also, in the same interview, alluded to no new taxes and significant tax cuts for New Jersey. All of this makes our state more competitive and affordable.

The New Jersey Chamber of Commerce applauds Gov. Phil Murphy for all his administration has been doing to prepare the New Jersey economy for 2023 and beyond – and we endorse his pro-New Jersey message. The state has a lot to be proud of and we have not leveraged those positives as much as we should. Today’s optimistic message will hopefully begin to reverse that.

Economic development projects in New Jersey are often subject to lengthy delays because municipalities may not have the resources to turn-around construction inspections in a timely manner. This unfairly stalls projects and increases costs for developers. In the meantime, towns and cities miss out on the much-needed tax revenue that result from completed projects.

As we close 2022 and head into a new year, New Jersey’s business community is hearing and reading mixed messages regarding the state of the state’s economy. Some are suggesting the business climate is fine, but that view is not matching the reality that businesses owners are experiencing.