CIANJ’s Statement on Governor Murphy’s Proposed State Budget (FY25)

February 27^th, 2024 (Rochelle Park) – “While there are many good initiatives and programs in the Governor’s proposed budget, funding New Jersey Transit, through a new corporate transit tax, on the backs of our New Jersey’s businesses, at a time when costs of doing business continue to rise, will only increase the burden on our employers”, said Anthony Russo, President of the Commerce & Industry Association of New Jersey (CIANJ). “CIANJ urges the Governor, and ultimately the Legislature, to withdraw this proposal and instead allocate federal funds to such a purpose.”

New Jersey received billions of dollars in recent years through the various federal laws that were enacted, including the Infrastructure Act, which could be used to improve our public transportation system.  Our businesses already pay some of the highest taxes and fees in the nation so adding to that burden will only deter new and continued investment in our State.  More needs to be done to help our businesses grow and increase the number of private sector jobs which will lead to more revenue for New Jersey.  Reducing taxes and fees on the business community will assist in accomplishing that goal.

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About CIANJ:

The mission of CIANJ is to be the leader in free enterprise advocacy for the purpose of fostering, through education, legislative vigilance, and membership interaction, an economic climate that enhances business potential and makes New Jersey a better state in which to live, work, and conduct business. Over time, CIANJ has learned how the real value of a business association is found in the relationships built and the resources shared. CIANJ’s forums and business councils are arenas that bring together the brightest minds across professional disciplines in the key areas that affect every business in the state. From finance and healthcare to human resources and the environment, there is always something to learn – or something to share — in our association.