Day: March 11, 2024

NEWJERSEY: Is NJ doomed to become more unaffordable?

Published on by reinkefjLeave a comment

https://savejersey.com/2024/02/10-not-so-fun-facts-about-phil-murphys-fy-2025-budget/?utm_source=rss&utm_medium=rss&utm_campaign=10-not-so-fun-facts-about-phil-murphys-fy-2025-budget&utm_source=rss&utm_medium=rss&utm_campaign=10-not-so-fun-facts-about-phil-murphys-fy-2025-budget

10 not-so-fun facts about Phil Murphy’s FY 2025 budget

February 27, 2024 Matt Rooney state budget 

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  • Notwithstanding taxes rising again (see below), Murphy’s budget includes a $1.8 billion structural deficit and a $5 billion deficit over two years.
  • We were told that the corporate business tax surcharge had sunset, but Governor Murphy wants to retroactively tack a 2.5% tax (the “Corporate Transit Fee”) on state businesses effective January 1st. It’s a clear break with his Election 2021 promise to not raise taxes in his second term, and its purposed goal is to save NJ Transit from complete collapse. Good luck.

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  • The StayNJ program – Election 2023’s big gimmick – is getting a relatively paltry $200 million infusion.

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Not that it matters much who you vote for or against, the Pepuls Republik of Nu Jerzee blunders along to be joke of the world in terms of affordability.  I can’t believe that ANYONE stays here if you have any other choices.

Sigh!

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