April 24th, 2014 by Jon Whiten | No Comments
In order for its economy to remain competitive, New Jersey needs a state-of-the-art transportation network and must be willing to make serious investment to maintain, improve and expand this important asset.
April 21st, 2014 by Raymond J Castro | No Comments
Congress has approved legislation that would allow about 160,000 struggling working New Jersey households the opportunity to continue to receive about $172 million in SNAP (food stamps) benefits annually if the state will put up a mere $3.2 million to help with heating bills. That is a guaranteed payoff of 54:1, which would make any Wall Street broker green with envy.
April 18th, 2014 by David Rousseau | No Comments
The recent years’ squabbles over rosy revenue projections in the New Jersey budget process would be of far less importance if the state was budgeting a larger surplus to provide a cushion to its highly volatile tax system.
April 18th, 2014 by Jon Whiten | No Comments
NJPP president Gordon MacInnes appeared on the March 9 edition of NJ Now to discuss the state of New Jersey’s economy and the spending plan recently proposed by the governor.
April 17th, 2014 by Jon Whiten | No Comments
New Jersey’s policymakers should adopt two simple reforms that would make the corporate tax more sensible, transparent, and productive: first, establish a floor on corporate taxes paid below which a company would be ineligible for state tax incentives; and adopt “combined reporting” to prevent businesses from shifting profits out-of-state in efforts to reduce taxable profits.
April 17th, 2014 by David Rousseau | No Comments
Just two months after the administration plugged a current-year budget gap of nearly $800 million, New Jersey may now be facing an additional budget shortfall of up to $300 million.
April 16th, 2014 by Gordon MacInnes | 1 Comment
In the lead-up to Tuesday’s tax filing deadline, there was the usual whirlwind of commentary and assertions, some of it factual, but much of it fictional. In New Jersey, most of the discourse invariably ends up focusing on the myth that the single biggest problem facing our state’s economy is high tax rates.
April 10th, 2014 by David Rousseau | No Comments
As April 15 inches closer and a half-million low-income working New Jerseyans await the economic boost of the Earned Income Tax Credit (EITC), nearly 200,000 filers from the previous two years continue to wait for almost $100 million in unpaid credits from this essential anti-poverty program.
April 3rd, 2014 by David Rousseau | No Comments
For the 9th consecutive year, the Office of Legislative Services (OLS) is projecting less revenue than the administration in its initial presentation to the Senate and Assembly budget committees. This year OLS is projecting that revenues could be a total of $526 million below the administration’s revised projections for this fiscal year and initial projections for the next fiscal year, which begins July 1.
April 3rd, 2014 by Mike Soszynski | No Comments
More evidence of New Jersey’s slow – even decelerating – economic recovery comes in the form of a new report from the Bureau of Economic Analysis at the United States Department of Commerce.