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NJBIA Statement on Budget Agreement

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NJBIA President & CEO Michele N. Siekerka, Esq., issued the following statement about the state budget compromise reached by Governor Murphy and legislative leaders Saturday evening.

"NJBIA is concerned that the agreement reached tonight balances the budget on the backs of the business community, particularly the increase in the corporation business tax, which will give New Jersey among the highest CBT rates in the nation.  Increasing the already high cost of doing business in New Jersey will undermine efforts to create jobs and grow the economy.

"NJBIA continues to call for structural reforms that address the cause of budget deficits such as public employee pensions, health benefits and education costs. We urge legislators and the governor to address the comprehensive reforms that are needed in the weeks ahead."