The New Jersey Chamber of Commerce supports Gov. Christie’s action today on the state budget. It is another example of fiscal policy by this governor that will help stabilize the business climate in New Jersey.
The State Chamber recognizes that many aspects of the governor's budget proposal have remained intact, including the final year of phased-in business tax cuts, such as single sales factor and net operating loss, that were initiated several years ago. We extend that appreciation to the bipartisan effort of our state legislators.
We also commend the governor for his veto of the proposed millionaire’s tax and the Corporation Business Tax surcharge, which would have damaged New Jersey’s business climate and hinder job growth.
When taxes are increased, we see businesses and business owners consider their options, and many ultimately decide not to relocate or expand in our state.
At the end of the day, it is confidence and predictability that drive a good business climate and forge economic growth.
We look forward to our continued work with the administration and the Legislature to help craft solutions to improve New Jersey's competitive position by aggressively working on initiatives that help grow jobs and the state's economy.
