Friday Facts and Figures: May 10, 2019

Friday Facts and Figures is a brief digital newsletter focusing on data points from NJPP reports, research, and policy debates in New Jersey and beyond.
Sign up here.


Today is NJPP’s annual conference, Progress 2019. To commemorate the event, the following figures feature the work of today’s panelists and the organizations they represent. Please join the conversations throughout the day on social media using the #Progress2019 hashtag.


65 Percent

The top ten percent of white households own 65 percent of the nation’s wealth. Meanwhile, people of color account for 35 percent of all the nation’s households, but just 13 percent of the nation’s wealth. At Progress 2019, state and national policy researchers, including Michael Mitchell — author of the linked report, will examine the connection between the nation’s legacy of white supremacy and the tax code. The panel will also outline opportunities for New Jersey to advance racial equity through state tax policy. [Center on Budget and Policy Priorities / Michael Leachman, Michael Mitchell, et al.]


$1 Billion+ Per Year

Fraud, abuse, and corruption in New Jersey’s economic development programs is the latest scandal to hit Trenton. A legislative overhaul of the programs in 2013 removed all meaningful spending caps and oversight. Now, it’s been reported that this law was hastily written by corporate lobbyists and political insiders to benefit themselves and their clients, and as a result, taxpayers are on the hook for over $1 billion per year in corporate subsidies. At Progress 2019, WNYC’s Nancy Solomon will moderate a panel that will include former NJPP Vice President Jon Whiten on the future of economic development policy in the Garden State. [New Jersey Policy Perspective / Jon Whiten]


284

Last month, 284 workers were arrested by Immigration and Customs Enforcement (ICE) during a raid on CVE Technology Group in Texas. This raid, the largest in at least a decade, is the latest in a series of worksite enforcement actions by the Trump administration. Simply put, our immigrant neighbors are under attack, and it’s up to state governments to create fair and welcoming communities. At Progress 2019, the National Immigration Law Center’s Avideh Moussavian will join state advocates and analysts to map out ways New Jersey can resist attacks on immigrants. [National Immigration Law Center / Holly Straut-Eppsteiner]


3.9 Million

By adopting a reinsurance fund, banning junk plans, and implementing a statewide individual mandate, New Jersey now has some of the lowest Marketplace premiums in the nation. If all states followed New Jersey’s lead by implementing a statewide mandate, 3.9 million uninsured Americans would receive coverage and Marketplace premiums would drop by 11.8 percent. At Progress 2019, NJPP Trustee Heather Howard will moderate a panel that will include Claire McAndrew of Families USA on moving to coverage for all New Jerseyans. [Families USA / Stan Dorn]


10.75 Percent

Is New Jersey on a path toward another state shutdown? It’s too early to tell, but legislative leaders are once again reluctant to support Governor Murphy’s millionaires tax proposal, which would raise the income tax on earners over $1 million to 10.75 percent. At Progress 2019, NJPP President Brandon McKoy will moderate an all-star packed budget panel with Health Commissioner Dr. Elnahal, Treasurer Muoio, Milly Silva of 1199 SEIU, and NJ Spotlight’s John Reitmeyer, creator of the Twitter famous “Shutdown Meter.” [NJ Spotlight / John Reitmeyer]


ICYMI

Speaking of the budget — NJPP is partnering with the New Jersey Work Environment Council (NJ WEC) for a “Tax Fairness Advocacy Training” on Sunday, May 19 at the Rutgers Labor Education Center in New Brunswick. This training is geared towards grassroots activists and will focus on why a millionaires tax is both fair and necessary for New Jersey — and its working families — to thrive. Sign up using the link! [Tax Fairness Advocacy Training / NJPP and NJ WEC]


Have a fact or figure for us? Tweet it to @NJPolicy.