Category: Press Release

NJPP Statement on Governor Murphy’s State of the State Address

Posted on by NJPP Staff

Earlier today Governor Murphy delivered his first State of the State address, where he reflected on policies signed into law during his first year in office and outlined his priorities for 2019.

BRANDON McKOY, DIRECTOR OF GOVERNMENT AND PUBLIC AFFAIRS, NJPP:

“New Jersey’s economy and the long term prospects of its working families are stronger now than they were a year ago, and that is a direct result of progressive policies passed by the Legislature and signed by the Governor over the last year.

“More than one million New Jersey residents now have access to paid sick days, undocumented students have equal access to tuition assistance at state colleges and universities, and health care premiums are among the lowest in the nation despite the federal government’s sabotage of the Affordable Care Act.

“But there is still more work to be done in building the “stronger and fairer” state the Governor envisions. Far too many New Jerseyans continue to live in poverty and that will not change until the state raises the minimum wage to $15 an hour for all workers. The state must also expand access to driver’s licenses to all residents, regardless of immigration status, to ensure every New Jerseyan can safely drive their kids to school and get to work on time.

“Further, the Governor was right to highlight the importance of reining in runaway corporate subsidies at the EDA — this is critical to improving the state’s fiscal health and budget prospects. The $11 billion in subsidies are corporate cronyism at its worst and harken back to trickle down economic policies that failed the state. We were pleased to hear the Governor devote so much of his speech to this important issue and look forward to working with him and the Legislature as they consider necessary reforms.”

Bloustein Report Busts the Millennial Migration Myth

Posted on by Louis DiPaolo

TRENTON (September 10, 2018) – On Monday morning New Jersey Policy Perspective (NJPP) released a new report on millennial migration patterns in New Jersey. The report, Millennials in New Jersey: Migratory Patterns and Public Opinion, analyzes the migratory patterns of young adults over time and busts the myth that millennials are “fleeing” New Jersey.

Authored by a practicum of graduate students from the Rutgers University Bloustein School of Planning and Public Policy, the report responded to the following policy questions posed by NJPP:

  • Are millennials leaving New Jersey at a higher rate than young adults have in the past?
  • Are millennials leaving New Jersey at a greater rate than millennials living in other states?

The report concludes that the answer to both questions is “no.” An analysis of Census data shows that millennial migration patterns do not differ from the general migratory patterns of young people over time. Since 1983, the average rate of young adult (18-39 years old) out-migration is 3.1 percent and has remained stable.

“Contrary to the conventional wisdom in the political community, millennials are not fleeing New Jersey,” said Dr. Cliff Zukin, Ph.D, public policy professor at Bloustein and report advisor. “In fact, the percentage of young people leaving New Jersey now is no different than it has been in the past, and is no different than the percentage of young people leaving surrounding states. This is not to say that young people don’t have issues with the high cost of living and housing in the state. They face the same problems as older residents, but are at an earlier stage in the life cycle when they have fewer resources.”

The practicum also interviewed twenty young adults to better understand the concerns of millennials in New Jersey. The case study found that millennials face the same problems that are commonly ascribed to all New Jersey residents; young adults are concerned about transportation infrastructure, the high cost of living in the state, and access to good jobs, but are at a point in the life cycle that makes these problems more acute.

“This report helps disprove some of the misleading stereotypes about the Millennial generation,” said Brandon McKoy, Director of Government and Public Affairs at NJPP. “Despite claims to the contrary, millennials are not fleeing the state, and they behave just like other New Jerseyans. Like young adults of previous generations, millennials need homes they can afford, high-paying jobs, and reliable transportation. Policymakers would be wise to prioritize investments in these areas.”

“This report challenges stereotypes about New Jersey’s millennials and shows we aren’t much different than other generations,” said Anish Patel, co-author of the report and a 2018 graduate of Bloustein. “It was exciting to research the migratory patterns of my peers and learn about the experiences and challenges of young adults across the state.

“As a millennial, I often notice assumptions made about my generation,” said Evan Friscia, co-author of the report and student at Bloustein. “As policymakers consider legislative remedies to issues facing young adults, I want to ensure that the decisions made are rooted in fact rather than speculation. We put a lot of time and energy into this report and I am incredibly proud of what we produced.”

Read the full report here.

Gordon MacInnes Announces Plans to Transition From President of New Jersey Policy Perspective

Posted on by NJPP Staff

To read a PDF version of this release, click here.

For Immediate Release

Contact: Louis Di Paolo, (201) 417-5049 (cell) or dipaolo@njpp.org

TRENTON (August 8, 2018) – Today, after six years with New Jersey Policy Perspective (NJPP), Gordon MacInnes announced his plans to transition from his role as President of the think tank. This transition comes at a time of strength and growth for NJPP which, under MacInnes’ leadership, has quadrupled its revenues, more than doubled its staff, focused new expertise on immigration and health care policies, and enhanced its reputation as a source of innovative, evidence-based ideas for advancing economic justice and shared prosperity for all New Jerseyans.

“It has been an honor and privilege to lead New Jersey Policy Perspective in its pursuit for a stronger and more equitable economy,” said Gordon MacInnes. “NJPP is effective because it is disciplined in its selection of issues, reliable in its analyses, and flexible in responding to changing political conditions. New Jersey will benefit as NJPP and its dedicated analysts continue to deliver quality results on a campaign-like schedule in support of sensible, progressive policies. I am so proud of the work we accomplished over the last six years and look forward to seeing NJPP thrive under new leadership.”

Following a long career of service in the public interest, MacInnes became the third President of NJPP in 2012. He was previously an elected member of both the New Jersey General Assembly and State Senate, served as assistant commissioner of the New Jersey Department of Education, as director of the Fund for New Jersey, and as a lecturer at Princeton University.

Once a successor arrives later this year, Gordon MacInnes will remain with NJPP as a Distinguished Senior Fellow, focusing his research on New Jersey’s preschool education system, its economic impact, and opportunities for expansion.

“We are immensely grateful to Gordon for his service to the Garden State. Under his leadership, NJPP has become a high-impact, well-respected voice in the halls of the state house and in policy circles across the state,” said Jun Choi, Chair of NJPP’s Board of Trustees. “For activists and lawmakers alike, NJPP is an influential and trusted source for bold policy ideas to grow the state’s economy and improve the lives of New Jersey’s working families. NJPP, and more importantly, the people of New Jersey, have benefited from Gordon’s dedicated leadership. We will miss his thoughtfulness, kindness, intellect, and sense of humor, and we are glad NJPP will continue to benefit from his wisdom as Distinguished Senior Fellow.”

Today, NJPP’s Board of Trustees will launch a nationwide search for NJPP’s next President. A search committee chaired by Marcia Marley, NJPP’s Board Secretary and Trustee, and composed of Trustees and staff, has retained Koya Leadership Partners to lead the process. Koya is a national executive search and human capital consulting firm that works exclusively with nonprofits and social enterprises. For more information regarding this search, please contact Trisha Sutrisno at tsutrisno@koyapartners.com or visit the Koya website.

“Gordon will hand over leadership of the premier public policy organization in New Jersey. Policymakers, advocates, media, and opinion leaders rely on NJPP’s research and expertise, and for that, Gordon deserves enormous credit and praise.” said Marcia Marley, NJPP Trustee and President of BlueWaveNJ. “The Board is committed to recruiting a new President who will continue to lead the organization’s rigorous analysis and fact-based approach to New Jersey’s most pressing challenges.”

“Gordon brought so much to the job of developing and promoting the powerful ideas New Jersey needs to regain its place as a state of opportunity,” said NJPP Trustee Jon Shure, who founded the organization in 1997 and served as President until 2009. “Gordon’s vision, strategic leadership, and record of success at NJPP are inspiring. Our board will work hard to ensure the next leader is someone well positioned to fulfil the organization’s vision of a thriving state.”

Under Gordon MacInnes’ leadership, NJPP’s analysis, strategic communications, and outreach played an essential role in advancing policies that improved the lives of all New Jerseyans and bolstered the state’s economy. Accomplishments include:

  • NJPP’s research and advocacy helped secure broad, bipartisan support for the Affordable Care Act (ACA) amidst attempts to repeal the landmark legislation, ensuring hundreds of thousands of New Jerseyans maintain access to affordable health care.
  • NJPP was a leading voice behind three increases in New Jersey’s Earned Income Tax Credit (EITC) – from 20 percent of the federal EITC in tax year 2015 to 40 percent in 2020 – providing over half a million low-income families with a boost in their take home pay.
  • NJPP’s data and analysis were instrumental in revealing the long-term consequences of skipping pension payments and framing the narrative on how to reverse New Jersey’s irresponsible budgetary practices.
  • NJPP played an integral role in the passage of earned sick days, benefitting over one million New Jerseyans who previously had to choose between going to work sick or foregoing a day’s pay.
  • NJPP’s reporting was critical to expanding access to higher education for New Jersey’s immigrant communities through the passage of tuition-equity and equal access to financial aid.
  • NJPP’s analysis highlighted the need for greater scrutiny of the state’s corporate subsidy programs, which awarded over $8 billion in incentives since 2010.
  • NJPP’s report on marijuana legalization and its potential windfall of tax revenue for the state grounded the conversation and provided a benchmark for lawmakers and stakeholders to work from.

New Poll: Most New Jerseyans Want Bold Tax Reform

Posted on by NJPP Staff

TRENTON (May 10, 2018)  – New Jersey voters continue to show strong support for new revenue sources to fix the state’s broken tax code and boost funding for important public investments, according to a new public opinion poll commissioned by New Jersey Policy Perspective (NJPP), an independent, non-partisan think-tank.

Robust, bipartisan voter support for raising taxes on the highest-income New Jerseyans and reinstating the estate tax has not wavered since the federal tax plan went into effect, and voters show broad support for closing tax loopholes on multistate corporations. As state budget negotiations on Governor Murphy’s new tax proposals are underway, the findings of this poll show that New Jerseyans favor making the tax code more progressive by having the state’s wealthiest individuals and corporations pay their fair share.

A millionaire’s tax proposal that was passed five times during the previous administration may be losing support among legislators, but not among voters. Seven out of ten likely voters in New Jersey support a new tax on incomes over $1 million. Since the new federal tax plan went into effect, New Jersey voters’ support for a millionaires tax remains strong.

“This polling demonstrates voters’ strong support for making the state and local tax system more equitable, especially after the recent changes to the federal tax code, which voters believe to be a handout to the rich and well-connected,” said Sheila Reynertson, Senior Policy Analyst at New Jersey Policy Perspective. “Most New Jerseyans want to see renewed investment in public education and transit infrastructure, and they want the state’s highest earners to chip in to help the state make the kind of investments that expand the middle class and help narrow the economic gap.”

The poll, which follows a similar poll NJPP commissioned in the fall, shows that the new federal tax law hasn’t changed New Jerseyans’ mind about the need for tax increases to help get New Jersey back on track.

“Across the country, including in New Jersey, wealthy individuals and corporations have used their lobbying power to skirt paying their fair share,” said Michael Leachman, Director of State Fiscal Research at the Center on Budget and Policy Priorities. “This poll shows that most New Jersey voters support having the wealthy pay their fair share and see bold tax reform as an opportunity for the state to re-invest in great schools, healthy communities, and an economy that works for everyone, not just those at the top. Research and the experiences of other states show that this is a smart strategy to grow the economy, and there is no better time than now, given the extraordinary windfall the wealthy and corporations received from the recent federal tax changes.” 

Some of the key findings include:

  • Seven in ten New Jersey voters (70 percent) support raising the income tax rate on households making $1 million or more a year – including 69 percent of independents and 51 percent of Republicans. The poll also found similar, bipartisan support (67 percent) for raising income taxes on the top 5 percent of households.
  • 49 percent of New Jersey voters say they would be more likely to support their state representative if they supported raising taxes on millionaires, while only 20 percent say they are less likely to do so.
  • Over two-thirds of New Jersey voters (69 percent) support closing tax loopholes used by multistate corporations, including 71 percent of independents and 61 percent of Republicans.
  • A majority of voters (61 percent) support restoring the New Jersey’s estate tax on heirs inheriting $1 million or more.
  • New Jersey voters also strongly support a 3 percent surcharge on businesses with more than $1 million in net income (by a 26-point margin) and rolling back the recent reduction in the state sales tax (by a 13-point margin).
  • Voters oppose the new federal tax law by a margin of 14 points, with a clear majority (59 percent) believing it will mostly help the wealthy and corporations.

The poll of 600 likely 2021 New Jersey voters, conducted by Anzalone Liszt Grove Research, was conducted April 25-30 using professional interviewers.

The full poll results can be viewed here: https://www.njpp.org/wp-content/uploads/2018/05/Baseline-NJ-Statewide-Tax-Poll-April-2018.pdf

 

New Analysis: State Tax Reform Would Create Jobs and Boost New Jersey's Economy

Posted on by NJPP Staff

Today, Trenton-based think tank New Jersey Policy Perspective released a new analysis conducted by REMI on the impact that its tax and revenue proposals would have on the state’s economy. NJPP’s proposals would raise more than approximately $2.4 billion, and the analysis shows that investing those funds evenly between general state services and public education would result in an estimated 35,500 new jobs, $2.9 billion increase in state economic output, and $2.4 billion increase in personal incomes for New Jerseyans.

“Deep tax cuts for the wealthy and large corporations as an economic strategy has crippled New Jersey’s ability to grow,” said Sheila Reynertson, Senior Policy Analyst at New Jersey Policy Perspective. “Investing new revenue in public services, on the other hand, helps build a strong state economy. And this model clearly demonstrates what that would look like – more jobs, more economic output and more money in the pockets of New Jerseyans.”

In State Treasurer Muoio’s testimony to the Senate Budget and Appropriations Committee last week, she asserted that even if the budget were to include no new revenues and no new spending, New Jersey would still have a deficit for fiscal year 2019. For a state that is having trouble affording its current obligations, let alone, investing in its critical assets and resources, the failure to raise new revenue would have a disastrous impact on our economy and harm workers and families everywhere.

“When policymakers fail to make the necessary investments in critical areas like transportation, education and affordable homes, we all lose out,” said Gordon MacInnes, President of New Jersey Policy Perspective. “It’s high time that we stop balancing the state budget on the backs of hard working low- and middle-income families and make the bold call for increased revenues to build New Jersey’s economic future by having wealthy households and corporations pay their fair share.”

New Analysis: State Tax Reform Would Create Jobs and Boost New Jersey’s Economy

Posted on by NJPP Staff

Today, Trenton-based think tank New Jersey Policy Perspective released a new analysis conducted by REMI on the impact that its tax and revenue proposals would have on the state’s economy. NJPP’s proposals would raise more than approximately $2.4 billion, and the analysis shows that investing those funds evenly between general state services and public education would result in an estimated 35,500 new jobs, $2.9 billion increase in state economic output, and $2.4 billion increase in personal incomes for New Jerseyans.

“Deep tax cuts for the wealthy and large corporations as an economic strategy has crippled New Jersey’s ability to grow,” said Sheila Reynertson, Senior Policy Analyst at New Jersey Policy Perspective. “Investing new revenue in public services, on the other hand, helps build a strong state economy. And this model clearly demonstrates what that would look like – more jobs, more economic output and more money in the pockets of New Jerseyans.”

In State Treasurer Muoio’s testimony to the Senate Budget and Appropriations Committee last week, she asserted that even if the budget were to include no new revenues and no new spending, New Jersey would still have a deficit for fiscal year 2019. For a state that is having trouble affording its current obligations, let alone, investing in its critical assets and resources, the failure to raise new revenue would have a disastrous impact on our economy and harm workers and families everywhere.

“When policymakers fail to make the necessary investments in critical areas like transportation, education and affordable homes, we all lose out,” said Gordon MacInnes, President of New Jersey Policy Perspective. “It’s high time that we stop balancing the state budget on the backs of hard working low- and middle-income families and make the bold call for increased revenues to build New Jersey’s economic future by having wealthy households and corporations pay their fair share.”

How to Boost Opportunities for Working Mothers & Families

Posted on by NJPP Staff

NEW REPORT: Investments in early care & education plus stronger labor standards would boost economic opportunities for NJ’s working mothers with young children

For the over 400,000 New Jersey mothers with children under the age of 6, balancing child care and career can be a daunting task due to the lack of adequate child care assistance – a task doubly difficult for lower-income moms. This barrier harms New Jersey’s economic growth and state revenues, in addition to the development of children, according to a report released today by New Jersey Policy Perspective (NJPP).

These working mothers of young children face many barriers to balancing work and parenting, with poor and low-income mothers struggling the most. To solve this complex set of problems, a comprehensive policy response – anchored in increased investments in early care and education, and stronger labor standards – is necessary.

In particular, the NJPP report analyzes the state’s early care and education programs – and their impact on the economic security of New Jersey’s mothers with young children.

“This report helps fill a gap in the public conversation about preschool and other early childhood care and education: the economic impact on mothers of young children who need or want to work,” said Holly Low, the 2017 Kathleen Crotty Fellow at NJPP and author of the report. “When we build strong, high-quality programs for young children, we’re investing in those kids, their mothers, their families and the state’s economy as a whole.”

The report finds that these programs help mothers with young kids earn $1.2 billion in wages and generate over $60 million in property and income taxes annually – numbers that would rise if New Jersey expanded high-quality public preschool.

The report also has original new data on the number of working mothers with young children in New Jersey, their demographics, their occupations, their earnings, their family status and more.

“Working mothers are an important part of New Jersey’s labor force, and they and their families need economic security and brighter opportunities,” said NJPP Vice President Jon Whiten. “If the state is to succeed, it needs a comprehensive policy agenda to boost these working families. That starts with investments in public early care and education programs, but those investments must be coupled with strong labor standards in order to have the greatest impact.”

The report calls on state lawmakers to:

  • Increase preschool aid and call on the federal government to invest further in state preschool programs, with the ultimate goal of universal preschool in New Jersey.
  • Increase the income eligibility for wraparound care in school districts that currently have state-funded preschool.
  • Piggyback on federal tax credits that help families with the cost of raising children and paying for care.
  • Call on the federal government to protect Head Start and the Child Care and Development Fund.
  • Mandate that employers provide workers with predictable and stable work schedules.
  • Increase the state minimum wage to a more livable wage.
  • Ensure that women workers have better tools to fight pay discrimination.
  • Allow all workers to take paid time off of work when they or a loved one is sick.

Read the full report here: https://www.njpp.org/reports/increasing-opportunities-for-working-mothers-would-boost-the-economy

How to Boost Opportunities for Working Mothers & Families

Posted on by NJPP Staff

NEW REPORT: Investments in early care & education plus stronger labor standards would boost economic opportunities for NJ’s working mothers with young children

For the over 400,000 New Jersey mothers with children under the age of 6, balancing child care and career can be a daunting task due to the lack of adequate child care assistance – a task doubly difficult for lower-income moms. This barrier harms New Jersey’s economic growth and state revenues, in addition to the development of children, according to a report released today by New Jersey Policy Perspective (NJPP).

These working mothers of young children face many barriers to balancing work and parenting, with poor and low-income mothers struggling the most. To solve this complex set of problems, a comprehensive policy response – anchored in increased investments in early care and education, and stronger labor standards – is necessary.

In particular, the NJPP report analyzes the state’s early care and education programs – and their impact on the economic security of New Jersey’s mothers with young children.

“This report helps fill a gap in the public conversation about preschool and other early childhood care and education: the economic impact on mothers of young children who need or want to work,” said Holly Low, the 2017 Kathleen Crotty Fellow at NJPP and author of the report. “When we build strong, high-quality programs for young children, we’re investing in those kids, their mothers, their families and the state’s economy as a whole.”

The report finds that these programs help mothers with young kids earn $1.2 billion in wages and generate over $60 million in property and income taxes annually – numbers that would rise if New Jersey expanded high-quality public preschool.

The report also has original new data on the number of working mothers with young children in New Jersey, their demographics, their occupations, their earnings, their family status and more.

“Working mothers are an important part of New Jersey’s labor force, and they and their families need economic security and brighter opportunities,” said NJPP Vice President Jon Whiten. “If the state is to succeed, it needs a comprehensive policy agenda to boost these working families. That starts with investments in public early care and education programs, but those investments must be coupled with strong labor standards in order to have the greatest impact.”

The report calls on state lawmakers to:

  • Increase preschool aid and call on the federal government to invest further in state preschool programs, with the ultimate goal of universal preschool in New Jersey.
  • Increase the income eligibility for wraparound care in school districts that currently have state-funded preschool.
  • Piggyback on federal tax credits that help families with the cost of raising children and paying for care.
  • Call on the federal government to protect Head Start and the Child Care and Development Fund.
  • Mandate that employers provide workers with predictable and stable work schedules.
  • Increase the state minimum wage to a more livable wage.
  • Ensure that women workers have better tools to fight pay discrimination.
  • Allow all workers to take paid time off of work when they or a loved one is sick.

Read the full report here: https://www.njpp.org/reports/increasing-opportunities-for-working-mothers-would-boost-the-economy

GOP-Trump Tax Plan Hits Many New Jerseyans Hard, Rewards State’s Millionaires

Posted on by NJPP Staff

FOR IMMEDIATE RELEASE: Oct. 4, 2017

Contact: Jon Whiten, whiten@njpp.org, 917-655-3313 or Jenice R. Robinson, jenice@itep.org, 202.299.1066 x 29

Under the “tax reform framework” released by the Trump administration and Congressional Republican leaders on September 27, New Jersey’s wealthiest 1 percent of taxpayers would receive an average $74,000 tax break each year while about 1 in 4 Garden State taxpayers would pay an average of $2,400 more in a year in federal taxes.

That makes New Jersey one of the hardest hit states in the nation, according to a new 50-state analysis of the tax plan released today by the Institute on Taxation and Economic Policy. In fact, the Garden State has the 2nd highest share of taxpayers who would see a tax hike under the Trump-GOP plan of the 50 states, at 26.4 percent. Nationally 16.7 percent of taxpayers would see a tax increase. (Maryland has the highest share, at 30.5 percent, while North Dakota has the lowest share, at 4.2 percent.)

While GOP leaders have pitched the plan as a tax cut for the middle class, the analysis shows that this is not true for New Jersey or the nation as a whole. While most New Jerseyans would, in fact, receive a modest tax cut, on average that cut would amount to less than one percent of their income. The wealthiest 1 percent of the state’s residents, by contrast, would reap a financial windfall, receiving 82 percent of the total tax cuts going to New Jersey while the bottom 40 percent of New Jerseyans would receive just 8 percent of the tax cut, and the middle 20 percent just 9 percent.

“Make no mistake: this proposal is not tax ‘reform’ – not by a long shot. It’s merely a package of huge tax cuts for those who are already doing well in this rigged economy: the very wealthy and large corporations,” said New Jersey Policy Perspective Senior Policy Analyst Sheila Reynertson. “And when this windfall for the top 1 percent is paired with the deep cuts to critical economic security programs like food assistance in the GOP budget, this merely makes today’s runaway inequality even worse.”

A greater share of New Jerseyans face a tax hike under the Trump-GOP plan than just about anywhere else because the plan would eliminate the state and local tax deduction, which disproportionately benefits high-service, high-tax states like New Jersey. Thanks in large part to the loss of this deduction, on the surface this tax plan hits the Garden State’s middle- to upper-middle-income families with significant tax increases. But it’s clear that the state’s low-income working families could also lose big, particularly when one considers the potential cuts to essential public services and safety net programs that are being taken up as companion measures.

“No matter how the GOP messages this plan, it is nothing more than an upward redistribution of wealth,” said Alan Essig, Executive Director of the Institute on Taxation and Economic Policy. “Not only does the plan boost the incomes of the wealthy with surgical precision, it also gives a pittance to most working people and it taxes some in the middle and upper-middle class more, essentially creating an even greater economic divide between the rich and everyone else.”

NJPP Charts a Course for Reforming State Income Tax

Posted on by NJPP Staff

By increasing income tax rates on New Jersey’s wealthiest households, the state could raise over $1 billion a year to help build strong communities and invest in working families across the state, according to a report released today by New Jersey Policy Perspective (NJPP). The report finds that New Jersey’s personal income tax has not kept up with the times, depriving New Jersey of resources needed to build widely shared prosperity.

Specifically, the NJPP report proposes adding four brackets to the state’s income tax and increasing rates on the state’s wealthiest 5 percent of households. The proposal is modeled on successful reforms put in place by California in 2012.

“Like California six years ago, New Jersey faces tremendous financial challenges. Our budget is stretched beyond capacity, we have chronically underfunded services that are critical to families in need, and we’ve failed to make the kinds of sound public investments in infrastructure and education that can ensure our economy is strong going into the third decade of the 21st century and beyond,” said Sheila Reynertson, NJPP senior policy analyst and author of the report. “This proposal alone will not solve the state’s fiscal crisis, but it is a substantial yet sensible step in the right direction.”

NJPP’s proposal would also combat growing inequality in New Jersey, where too few families prosper while too many families struggle to get by every day.

Today, the most well-off New Jerseyans hold a greater share of the state’s income than they have in nearly a century, thanks to decades of unequal economic growth, creating an off-balance economy in which many middle- and lower-income New Jerseyans face barriers to economic opportunity. In fact, New Jersey’s top 5 percent of households now have average incomes that are 15.6 times larger than the bottom 20 percent of households, ranking 7th in the country for income inequality. Recent state tax policy changes have exacerbated this trend, making it harder for New Jersey to foster the kind of investments that expand the middle class and help narrow that gap.

“Those at the very top, who have greatly prospered in the past decade, have a responsibility to pay their fair share and ensure our state and our society has a strong foundation for the future,” added Reynertson.

The report is the third of a series of NJPP reports digging into the details of state tax reforms that can help end New Jersey’s fiscal crisis while promoting shared prosperity and furthering economic justice in the Garden State, and it comes as the major-party candidates for governor continue to have a spirited public debate over taxes.

Earlier reports in the series:

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