After New Jersey lost more than 20,000 jobs during back-to-back months over the summer, there were concerns that the state’s economy was sliding backward following what had been a period of steady improvement.
The Assembly and a key Senate committee have approved legislation designed to improve New Jersey’s budget process, but the full Senate must act on the bill for it to move forward.
New Jersey’s policymakers and economic-development officials should be focused on growing the state’s economy, not rewarding tax dodgers with additional tax breaks. Putting an end to this practice is just common sense.
While the state’s slower-than-average economic growth is the result of many factors, it’s clear that the approach favored by policymakers over the past half-decade is not working.
Rankings of ‘business tax climates’ tell us very little about what states are creating the most good jobs or growing the strongest economies,” NJPP president Gordon MacInnes told NJTV News.