For the Many NJ: Governor Murphy Gives Ultra Wealthy Corporations $1 Billion, Passes Cost to Transit Riders

Lawmakers should fill budget holes with sustainable revenue — not throw costs to New Jersey's working families.

Published on Jan 24, 2024 in Economic Justice

New Jersey Transit announced their plan today to make up for budget shortfalls, including a $119 million shortfall in fiscal year 2025, by raising fares. This comes on the heels of Governor Murphy’s decision to deliver a $1 billion tax cut to the wealthiest corporations in the state by refusing to renew the Corporate Business Tax surtax earlier this month. For the Many NJ releases the following statement in response:

Eric Benson, Campaign Director, For The Many NJ:

“Fare hikes on everyday New Jerseyans does nothing to make the state more affordable and shows why we need to have fair sustainable revenue like the Corporation Business Tax surtax. While big corporations are getting $1 billion in tax cuts, New Jersey’s leaders have no plan to fill budget holes and instead are throwing the costs to working families.

If the Governor and legislature don’t get serious about raising revenues from the wealthy and powerful, it will be the working- and middle-class residents of the state who end up paying the price.”

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For The Many NJ is a statewide coalition of more than 30 organizations working to expand funding for essential services and improve budget practices to meet current and future needs, especially for communities that have been historically left behind.

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