New Jersey Chamber of Commerce on LinkedIn: It has been weeks since a highly punitive business tax increase on the… (2024)

New Jersey Chamber of Commerce

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It has been weeks since a highly punitive business tax increase on the state’s largest companies was proposed in the fiscal 2025 state budget. This essentially replaces the temporary 2.5% CBT surcharge that expired at the end of 2023, and repackages it as a Corporate Transit Fee. This tax hike would affect New Jersey’s largest job creators, tax revenue producers and philanthropic givers — in a very bad way, as would the “Buck a Truck” proposal, which is an unnecessary nuisance tax on the state’s burgeoning logistics industry. Moreover, the proposals would hurt the progress New Jersey has been making as a desirable location to run a business. Now the ball is in the state Legislature’s court. We have not yet heard where legislative leaders stand. But, we are strongly encouraging them to vote against this tax hike. Click here to tell your legislators that the proposals hurt New Jersey's economic momentum: https://lnkd.in/eSYTctj6Thomas A. Bracken Michael Egenton Amirah Hussain

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    There's a push to save a proven New Jersey Chamber of Commerce Foundation program for students in underserved communities. Jobs for America's Graduates New Jersey, which is present in 18 high schools this year — and has plans to be in 21 next year — had its state allocation cut a whopping 86%, from $350,000 to $50,000. Thanks Tom Bergeron of ROI-NJ for helping to tell the story of the program's many benefits. Donna Custard Jennifer Stegers Dr. Sandra G. Strothers Victoria Licata (Ahde)https://lnkd.in/gpvgcEnB

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    May 20: Join us for the 13th Annual N.J. Chamber Challenge Cup golf outing. It's a day of camaraderie and connections at the elegant Bedens Brook Club in Skillman. The outing features 18 holes of golf as well as networking at our pre-golf lunch reception and post-golf awards ceremony. To register and to view sponsorship opportunities: https://lnkd.in/ejN9Hg5w

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    Attention all golfers. The New Jersey Chamber of Commerce annual golf outing is fast approaching on May 20. More details: https://lnkd.in/ejN9Hg5w

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    In a new op-ed, New Jersey Chamber of Commerce CEO Thomas A. Bracken urges state legislators to not support the proposed Corporate Transit Fee because, if passed, it would have a disastrous impact on the state’s economy and our business attraction and retention efforts. The ball is now in the legislature's court. https://lnkd.in/eCVqpUfb

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