Funding for Business Tax Breaks Shows Skewed Priorities

By Sarah Stecker

State Gambles on Companies (and Loses) Instead of Investing in Students, Transportation

The Fiscal Year 2009 budget proposed by Gov. Jon Corzine increases spending on tax breaks for businesses—tax breaks of questionable value, as some recent developments highlight–while investments in more tried and true economic development tools suffer.

More than ever, it is clear that New Jersey needs to spend state dollars in ways that invest in future economic growth and the well being of residents. Increasing spending on business subsidies, while cutting higher education appropriations and failing to adequately the transportation system, is short-sighted policy that threatens New Jersey’s prosperity.

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