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Proposed N.J. budget seeks billions in tax relief, higher tax on big corporations

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Proposed N.J. budget seeks billions in tax relief, higher tax on big corporations


The proposed corporate transfer fee did not impress Republican leaders. Assembly Budget Officer Nancy Muñoz described it as “rebranding” the corporate tax surcharge that expired at the end of 2023.

“We applauded ourselves for eliminating the corporate business tax,” she said. “Now, we’ve reinstated the corporate business tax, and what is driving the businesses out of New Jersey is this corporate business tax.”

Muñoz added that there is enough money in the budget to fund NJ Transit, suggesting that the $1.5 billion in legislative add-ons to the current budget could’ve gone toward the transit agency.

Murphy’s spending plan also includes expanded funding for health care for children, investments in pre-k and public schools, a school lunch program and more money for a nursing expansion initiative. Also included in the budget is money for a program to help aspiring teachers, build offshore wind farms, expand the state’s electric grid infrastructure and promote innovation in artificial intelligence.

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“We have crafted this year’s budget, letter by letter, line by line to support the working families who have led New Jersey through hard times,” Murphy said, “Our promise has always been putting the needs of our families ahead of special interests.”

The governor also proposed creating a new program called RetireReady NJ, which will provide nearly all workers, particularly those who do not have a pension or 401(k), an option to invest in a retirement savings plan.

Among other proposed spending is a full payment to the state’s pension system and expanded health insurance options, medical debt relief assistance and more money for affordable housing.

“Together we’re going to continue building that stronger and fairer New Jersey where every family, especially those who worry that they’ve been forgotten, has a fair shot at a brighter future,” he said.



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New Jersey

Companies could easily flee NY for NJ over new congestion toll: senator

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Companies could easily flee NY for NJ over new congestion toll: senator


Companies might easily flee New York for New Jersey if they find that the new congestion pricing toll in Midtown is hurting their business and workers too much, Garden State Sen. George Helmy said Sunday.

The $9 charge for cars and up to nearly $22 for trucks is expected to have an outsized effect on commuting New Jerseyans and firms that do business in Manhattan, Helmy said on CBS New York’s “The Point with Marcia Kramer.”

The senator said the toll — which proponents claim will cut traffic and fund the perennially cash-strapped public transit Metropolitan Transportation Authority — might cause some New York businesses to move across the Hudson, where workers and customers won’t have to fork over the extra cash.

Garden State Sen. George Helmy believes the new congestion toll will backfire. CBS News

“You’ve seen over the last two years more and more New York City-based organizations, including business groups, say that this is bad for business and bad for working families in the city,” Helmy said.

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“A lot of the employees who come to the city every day are New Jerseyans, mostly north New Jerseyans, or [they] live in our shore communities,” the senator said.

“And if they can get [their] businesses to move into Jersey City or Hoboken, where we’re already seeing some of that influx, I think it’s going to be good for New Jersey,” he said.

The $9 charge for cars and up to nearly $22 for trucks is expected to have an outsized effect on commuting New Jerseyans and firms that do business in Manhattan. Christopher Sadowski

But he reiterated that congestion pricing as a whole is “bad for New Jersey, and it’s bad for the city.”

Several Garden State officials, including Gov. Phil Murphy, Rep. Josh Gottheimer and Rep. Mikie Sherrill, have called the new tolls a mistake.

“This plan is a tax on New Jersey families meant to force New Jerseyans to pay for MTA upgrades — all without getting a cent back for NJ TRANSIT,” said Sherrill, who along with Gottheimer is running to replace Murphy next year.

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The $9 charge for cars and up to nearly $22 for trucks is expected to have an outsized effect on commuting New Jerseyans and firms that do business in Manhattan. New York Post
New York State Governor Kathy Hochul proposed, then paused the plan before the election, then moved ahead on again right afterward. Andrew Schwartz / SplashNews.com

“Make no mistake: New Jersey will not sit back and take it quietly as New York uses our commuters as a meal ticket for the MTA,” she said.

There are already nearly a dozen lawsuits challenging the pricey plan, which recently cleared a key legislative hurdle and is set to start Jan. 5, CBS said.

Earlier this month, lawyers for the New Jersey governor urged a Newark federal judge to rule on one of the biggest lawsuits aimed at nixing congestion pricing — a plan that Hochul proposed, then paused before the election, then moved ahead on again right afterward.

“I have consistently expressed openness to a form of congestion pricing that meaningfully protects the environment and does not put unfair burdens upon hardworking New Jersey commuters.” Murphy has said about the toll. “Today’s plan woefully fails that test.”

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Vigil in Lawnside shines light on love and unity in face of recent hate incident

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Vigil in Lawnside shines light on love and unity in face of recent hate incident


It has been decades since Lawside was subject to a racist attack, according to Linda Shockley, president of the Lawnside Historical Society. Shockley said the last recorded incident was shortly after the borough’s incorporation in 1926. During that time, several residents of Woodcrest  burned crosses on several occasions when that white neighborhood was unsuccessful in trying to secede from Lawnside.

Shockley, who is a member of WHYY’s Community Advisory Board, spoke to the crowd about the borough’s history dating back to the colonial period when Lawnside was known as Free Haven.

“We were taught in our schools the proud history of this community, founded by people who believed in freedom,” she said. “These people followed that desire to be free. It’s a natural human desire to be free.”

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Allen | POST-RAW 11.23.24 | New Jersey Devils

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Allen | POST-RAW 11.23.24 | New Jersey Devils


NewJerseyDevils.com is the official web site of the New Jersey Devils, a member team of the National Hockey League (“NHL”). NHL, the NHL Shield, the word mark and image of the Stanley Cup and NHL Conference logos are registered trademarks of the National Hockey League. All NHL logos and marks and NHL team logos and marks as well as all other proprietary materials depicted herein are the property of the NHL and the respective NHL teams and may not be reproduced without the prior written consent of NHL Enterprises, L.P. Copyright © 1999-2024 New Jersey Devils and the National Hockey League. All Rights Reserved.



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