Funding NJ’s Infrastructure
New Jersey Business Magazine – Government
by Jim Pytell
3w ago
In a state as densely populated as New Jersey, maintaining a solid transportation infrastructure is vital; not only to allow the state’s 9.3 million people to get where they need to go, but also to ensure that the economy can flourish. Any shutdown or delay on a major roadway, train tunnel or bridge due to crumbling infrastructure leads to frustrated commuters, longer travel, delayed emergency services, and billions of dollars lost in economic impact. Evidently, properly funding our state’s infrastructure is paramount.  The New Jersey Department of Transportation (NJDOT) and NJ TRANSIT pr ..read more
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Compounding the Benefits of Budget Discipline
New Jersey Business Magazine – Government
by Jim Pytell
1M ago
Time and discipline! When I worked on the state budget in the New Jersey Senate, I was taught one of the most powerful budgeting techniques: Patience over multiple thrifty budgets makes finding the funding for a priority possible. Ben Franklin, whose financial management skills earned him a fortune during his lifetime, understood sound planning and the power of compound interest. Albert Einstein is reported to have once described compound interest as “the most powerful force in the universe.” If budgets, over time, are prioritizing saving money in one area while prioritizing growth in another ..read more
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Asare Named President & CEO of the NJ Maternal and Infant Health Innovation Authority
New Jersey Business Magazine – Government
by Angeline Li
1M ago
Gov. Phil Murphy and First Lady Tammy Murphy have announced the appointment of Lisa Asare as the president and chief executive officer of the New Jersey Maternal and Infant Health Innovation Authority. The announcement was made at the inaugural public board meeting held today in Trenton, which officially marked the launch of the authority. The first of its kind in the nation Maternal and Infant Health Innovation Authority (MIHIA) is tasked with overseeing the New Jersey Maternal and Infant Health Innovation Center based in Trenton and will be the arm of government that continues the vital work ..read more
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Time to Derail NJ TRANSIT Tax Talk
New Jersey Business Magazine – Government
by Jim Pytell
1M ago
Just eight weeks after the sun went down on New Jersey’s temporary Corporation Business Tax surcharge, Gov. Phil Murphy broke his pledge by resurrecting the levy under a new name to fund NJ TRANSIT – part of his $56 billion FY25 state budget proposal. In a stunning reversal of his prior public promises, the governor now wants to raise the top corporate tax rate for this state’s largest job-creators to 11.5% – a move that will saddle New Jersey businesses with the highest corporate taxes in the nation. Again. What’s more, the “Corporate Transit Fee” as he euphemistically calls it, would be perm ..read more
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Tammy Murphy Suspends Senate Campaign
New Jersey Business Magazine – Government
by Jim Pytell
1M ago
First Lady Tammy Murphy announced Sunday that she is dropping out of the US Senate race, clearing the way for Rep. Andy Kim (D-3rd) to win Sen. Bob Menendez’s seat. Murphy released a video announcing her campaign’s suspension, notably stating, “It is clear to me that continuing in this race will involve waging a very divisive and negative campaign, which I am not willing to do.” She added that, “with so much at stake for our nation, I will not in good conscience waste resources tearing down a fellow Democrat.” While Murphy did not mention nor endorse Kim in her announcement, she did ..read more
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Wengryn Named New Jersey Secretary of Agriculture
New Jersey Business Magazine – Government
by Angeline Li
1M ago
Gov. Phil Murphy announced that Edward D. Wengryn will serve as the New Jersey Secretary of Agriculture, following his appointment by the State Board of Agriculture today. Since July 1, 2023, Assistant Secretary Joe Atchison III has directed the Department of Agriculture, assuming the responsibilities of Secretary, after the retirement of Secretary Douglas Fisher. Incoming Secretary Wengryn will begin on Monday, March 25. “Gov. Murphy commented, “As the Garden State, agriculture is one of the most important facets of our state’s identity and heritage. Ed comes from a farming family and is a pa ..read more
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Murphy Signs New Affordable Housing Legislation
New Jersey Business Magazine – Government
by Angeline Li
1M ago
Gov. Phil Murphy today signed affordable housing legislation to support towns in meeting their affordable housing obligations. The legislation develops a new system for municipalities to meet their Mount Laurel affordable housing obligations, replacing the current process that exists entirely in the courts. “One of our administration’s top priorities has been to establish New Jersey as a national leader in expanding affordable housing,” said Murphy. “With today’s bill signing, we will be able to create more certainty and lower costs in New Jersey’s affordable housing landscape. By establishing ..read more
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Signs Point to Sen. Menendez Not Running
New Jersey Business Magazine – Government
by Angeline Li
1M ago
As the latest Monmouth University Poll released its findings today that a majority of New Jersey residents want U.S. Senator Bob Menedez to resign from office due to federal criminal charges, the New Jersey Globe reported that the senior senator from New Jersey has not collected the 1,000 petition signatures needed to appear on the June 4 Democratic primary ballot. The filing deadline to do so is March 25, and a friend of Menendez told the New Jersey Globe that the senator “is not running.” Additionally, three sources with direct knowledge of Menendez’s plans said he is “not using paid staff o ..read more
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GOP Expresses Concerns Over Murphy’s Proposed Budget
New Jersey Business Magazine – Government
by Jim Pytell
2M ago
After Gov. Phil Murphy unveiled his $56 billion budget plan yesterday, top Republicans and business stakeholders expressed concern, particularly with the proposal’s transit fee, which will act as a new and permanent 2.5% surtax on New Jersey’s largest job providers. “The governor has talked for months and months about letting the Corporate Business Tax (CBT) surcharge expire, only to create a new, higher tax [in its place],” said Assembly Minority Leader John DiMaio, who noted that this new transit fee could also be permanent, as no indication of an expiration was given. The 2.5% fee is the sa ..read more
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Gov. Phil Murphy Delivers Fiscal Year 2025 Budget Address Remarks as Prepared for Delivery
New Jersey Business Magazine – Government
by Angeline Li
2M ago
….. It is for the working- and middle-class families of New Jersey that we have crafted our proposed budget for the 2025 fiscal year. It is a budget that delivers on the promises we have made to the people of New Jersey since day one. A budget that will make life more affordable for more families — by lowering costs and increasing opportunities. A budget that balances the responsibility of spending within our means — while stretching every dollar to lift up our neighbors in need. And it is a budget that will protect our fundamental rights and freedoms — from voting rights, to reproductive righ ..read more
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