N.J. Chamber of Commerce President and CEO Thomas Bracken Responds to:
- Sweeney-Sarlo Millionaire’s Tax Proposal
- Better Choices for New Jersey Coalition’s Call for Enhanced Taxes on the Business Community
The future of our state is contingent upon growth – growth in people, jobs and business. The revenue coming from that growth will provide funding for the many significant fiscally constrained issues we currently face.
To accomplish growth, we need to make our state more affordable and more competitive. We are facing a crisis in both of these areas. Every proposal coming from our Legislature or administration should pass through the lens of enhancing affordability and making our state more attractive to business. We simply cannot afford to do anything else.
The recent proposal from Sens. Sweeney and Sarlo on a millionaire’s tax to provide for school funding, and the proposal from Better Choices for New Jersey coalition to dramatically alter taxation of the business community conflict greatly with the concepts of affordability and competitiveness, and, if implemented, would construct huge barriers to our state’s ability to grow.
We have many issues in our state, but there are solutions to all of them. The challenge is addressing the solutions in the right way. Through face-to-face meetings of all impacted parties, and through candid, constructive and civil discussions, we can come to resolutions that everybody can embrace. This will necessitate compromise from everyone involved but it is the only way to move our state forward in a positive direction, and begin to achieve the enormous potential we have.
Let’s stop the self-motivated, parochial proposals that only divide our state even more, and begin to unite it in a unified effort to make our state a better, more affordable, more attractive place for everyone to have the opportunity to enhance their work-life experience.