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Budget

Murphy Doubles Down On Criticism Of ‘Rigged’ Tax Incentives

John Reitmeyer | June 19, 2019 | Budget

Governor promises to veto legislation providing seven-month extention of scrutinized EDA programs, without ‘meaningful reform’

Governor Won’t Quit on Millionaires Tax, Says All Options Remain on Table

Brenda Flanagan | NJTV News | June 19, 2019 | Budget
Surrounded by union leaders, Murphy lambastes legislative Democrats for resistance to his tax on the wealthy
Lawmakers Go Own Way on Budget, No Millionaires Tax or Other Murphy Priorities
John Reitmeyer | June 18, 2019 | Budget
Democratic lawmakers advanced their own appropriations bill, setting stage for a difficult budget negotiation with Gov. Phil Murphy, a fellow Democrat
Judge Denies Norcross Bid to Delay Investigation of Tax Breaks by Task Force
David Cruz | NJTV News | June 18, 2019 | Budget
After hours of arguments from both side in Mercer County Criminal Court, South Jersey powerbroker fails to obstruct examination of controversial tax incentives
Lawmakers Vote to Extend Tax Incentive Programs; Murphy Signals He’ll Veto
John Reitmeyer | June 14, 2019 | Budget
Assembly approves legislation to keep controversial tax breaks in place through January, despite governor’s call for significant reform
Public Unions Make Their Voices Heard — in Favor of Millionaires Tax
David Cruz | NJTV News | June 14, 2019 | Budget
A millionaire governor and union rank-and-file say no time like present for millionaires tax, regardless of what Senate President Sweeney says
New IRS Rules Undercut NJ’s Effort to Get Around SALT Cap
John Reitmeyer | June 13, 2019 | Budget
New regulations will prolong uncertainty for New Jersey homeowners and local governments; state Attorney General threatens lawsuit
Camden’s Show of Support for EDA Tax Breaks Amid Task Force Controversy
David Cruz | NJTV News | June 12, 2019 | Budget
South Jersey delegation lavishes praise on Economic Development Authority even as strife continues over the tax breaks it oversaw for Camden
Is it ‘Goodbye’ to Gov’s Property-Tax Credit and Millionaires Tax?
John Reitmeyer | June 11, 2019 | Budget
No lawmaker has stepped up to sponsor legislation for governor’s $250M property-tax relief proposal; they appear equally resistant to his bid for a millionaires tax
Faith-Based Leaders Campaign for Murphy’s Millionaires Tax
Brenda Flanagan | NJTV News | June 10, 2019 | Budget
‘To whom much is given, much is required,’ says one pastor, as coalition urges legislators to row in behind governor
As June 30 Deadline Looms, Murphy Releases Plan to Reform EDA Tax Incentives
John Reitmeyer | June 6, 2019 | Budget
Facing time crunch, top Democratic lawmakers would rather extend current incentive programs offered by beleaguered agency
Pew Study: Echoes of Great Recession Still Heard In Trenton, Other States
John Reitmeyer | June 5, 2019 | Budget
Analysis of government spending shows that, in many categories, New Jersey and other states have yet to attain pre-downturn levels
Holtec’s $260 Million Tax Break Frozen by EDA
Nancy Solomon | WNYC and Jeff Pillets | June 5, 2019 | Budget
Action taken after report of inaccuracy in nuclear company’s application for tax break related to its Camden headquarters
Frustration Aired over Slow Delivery of Library and School Bonds
Carly Sitrin | June 4, 2019 | Budget
Voters approved big bond funding for libraries and school-related issues; Murphy administration is blamed by some for delay in issuing regulations
New Jersey Shaves Bonded Debt but Remains Among Most Indebted States
John Reitmeyer | June 3, 2019 | Budget
For only second time in past decade, the state has reduced its total bonded debt — but the improvement is likely to be short-lived
State Again Pares Role of Hedge Funds in Pension Holdings
John Reitmeyer | May 30, 2019 | Budget
Investment returns for the state’s beleaguered retirement systems have totaled 4.68 percent during the fiscal year that ends June 30, well shy of assumptions
Changing Rules to Cover NJ First Responders Who Volunteered on 9/11
John Reitmeyer | May 29, 2019 | Budget
Many weren’t acting in the line of duty, but volunteer first responders at the World Trade Center site are now seriously ill and ‘accidental disability’ would ensure their health coverage
The Five Sticky Budget Issues Governor and Lawmakers Must Resolve
John Reitmeyer | May 28, 2019 | Budget
The final countdown to the state’s budget traditionally begins after Memorial Day. Here we are — and here are the five biggest issues Gov. Phil Murphy and legislators must sort out by June 30
Gov Touts Plan To Make Community College Tuition Free For More Students
John Reitmeyer | May 24, 2019 | Budget
In Burlington County, Murphy makes case for doubling of funding, making grants available at all 19 of NJ’s community colleges
A False Answer, a Big Political Connection and $260M in Tax Breaks
Nancy Solomon, WNYC, and Jeff Pillets | May 24, 2019 | Budget
ProPublica and WNYC, our content partners, report on an issue with Holtec International’s application for a New Jersey tax incentive
In Trenton, Tax Credits For The Working Poor Are Rare Point Of Political Amity
John Reitmeyer | May 22, 2019 | Budget
Average Earned Income Tax Credit — popular on both sides of the aisle — would rise above $1,000 for the first time under governor’s budget
New Jersey Gets Lowest Rating Among States for Recession Preparedness
John Reitmeyer | May 21, 2019 | Budget
Mixed reaction in Trenton to credit-rating firm’s ranking of Garden State as ill-prepared for an economic downturn; Moody’s cites poor budget reserves and pension risks
Politicians Could Punt To Voters On How To Put NJ’s Fiscal House In Order
John Reitmeyer | May 17, 2019 | Budget
Locked in bitter dispute with governor over budget, senate president proposes a referendum on cuts in public-worker benefits
Camden Leaders Push Back Against Critics of Tax Breaks
David Cruz | NJTV News | May 17, 2019 | Budget
Former Gov. Jim Florio among those who vouch for value of tax incentives in revitalizing the city
Lawmakers Advance Measures to Ease NJ Property Taxes
Colleen O'Dea | May 16, 2019 | Budget
Bipartisan support in committee for a bill that could cost state more than $330 million annually in restored municipal aid; two other bills are more contentious
New Lottery Agreement Could Earn State $100M Over Coming Decade
John Reitmeyer | May 16, 2019 | Budget
Public-employee pensions are real winners. They should see extra $10 million annually over next 10 years
As State Coffers Swell, Lawmakers Resist Millionaire’s Tax
John Reitmeyer | May 15, 2019 | Budget
Business tax levies are now running more than $750 million over projections, and income-tax trends are approaching original forecasts
Camden Residents Blast Tax Incentives — and Norcross
David Cruz | NJTV News | May 15, 2019 | Budget
Citizens contend that not much has changed despite $1 billion in incentives for companies in the orbit of powerbroker George Norcross
Singing in the Rain: NJ’s 1st Deposit to Rainy-Day Fund in Decade, Says Treasurer
John Reitmeyer | May 14, 2019 | Budget
This year’s surging ‘April surprise’ in tax collections translates into $250 million tagged for Surplus Revenue Fund after years of running on empty
Legislative Hearings into Tax Incentives Will Be Unlike ‘Slanted’ Task Force
John Reitmeyer | May 13, 2019 | Budget
Lawmakers to conduct their own probes of controversial programs but signal their efforts will be more sympathetic than recent investigations
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