Business groups are hammering Gov. Phil Murphy’s budget plan over its more than $1 billion in tax hikes, two-thirds affecting the wealthy and corporations.
The Legislature begins its review of Gov. Phil Murphy’s budget Tuesday, with the typical four-month marathon turned into a sprint concluding in three weeks.
They’re calling on Gov. Murphy to cut spending and institute real reforms to produce a balanced state spending plan that’s been severely impacted by the COVID pandemic.
The analysis recommends wealthy state residents and successful corporations earning profits during the pandemic should pony up more to help pay for vital state services.
Senate panel votes to audit the unemployment division and spend $50M in federal aid for tech upgrades. It also wants to delay a hike in unemployment taxes.
Billions of stock trades are run through computer servers in New Jersey. A tiny tax on those could yield big money, unless it prompts them to be relocated.