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Governor Murphy

All articles tagged with #governor murphy

"Murphy's Proposal: New Tax on Top Businesses to Fund N.J. Transit"

Governor Philip D. Murphy of New Jersey is set to propose reinstating a corporate business tax of 11.5 percent for companies with profits exceeding $10 million, up from the previous threshold of $1 million, in an effort to address the financial challenges of New Jersey Transit. The tax, if adopted, is expected to apply to 600-700 companies and generate approximately $800 million annually, with the revenue earmarked for New Jersey Transit starting in mid-2026. Murphy views this as a "corporate transit fee" and not an alternative to the fare increases planned by New Jersey Transit.

via The New York Times|

#business-politics #business-tax #corporate-surcharge

politics2 years ago•6 min saved

"New Jersey's Liquor License Laws Overhauled After Nearly a Century"

Governor Phil Murphy signed legislation overhauling New Jersey's liquor license laws for the first time in nearly a century, injecting nearly 1,500 licenses back into the market, easing restrictions on breweries and distilleries, and creating new opportunities for small businesses. The new law addresses inactive/pocket licenses, establishes new mall licenses, and permanently eases restrictions on breweries, distilleries, cideries, and meaderies, aiming to boost economic activity and revitalize downtown areas.

via InsiderNJ|

#breweries #economic-growth #governor-murphy

politics2 years ago•4 min saved

"New Jersey Bears Highest Cost of Blue State Policies in 2023, Expert Reveals"

A study found that New Jersey lost the most residents in 2023, with an expert attributing the exodus to the state's liberal policies, high taxes, and regulatory environment. The state's sixth consecutive year as the most moved-from state was also blamed on Democratic Governor Phil Murphy's administration, with Republican Rep. Jeff Van Drew criticizing sanctuary state policies and environmental decisions. In contrast, Southeastern states like South Carolina and North Carolina saw an increase in inbound moves. The expert highlighted the impact of tax policies, noting that New Jersey's high tax burden across various areas contributes to its population decline.

via Fox News|

#governor-murphy #liberal-policies #migration

energy2 years ago•5 min saved

Ørsted Abandons New Jersey Offshore Wind Projects, Citing Supply Chain Issues

Ørsted has announced that it will no longer pursue the development of its Ocean Wind 1 and 2 projects off the Jersey Shore due to changing macroeconomic factors, including high inflation, rising interest rates, and supply chain bottlenecks. New Jersey Governor Phil Murphy criticized Ørsted's decision, calling it outrageous and questioning the company's credibility. Despite this setback, New Jersey still has several other offshore wind projects in various stages of development, and the state plans to solicit more project proposals soon.

via Press of Atlantic City|

#energy #governor-murphy #new-jersey

education2 years ago•4 min saved

Controversy Erupts as NJ Governor Criticizes School's Halloween Ban

The South Orange and Maplewood school district in New Jersey has decided not to hold Halloween celebrations during school hours in an effort to promote diversity and inclusion. Some families support the decision, while others see it as going too far. Governor Murphy weighed in on the debate, expressing his disagreement with the decision and stating, "Give me a break." The district's decision is part of a larger movement in public schools to reframe Halloween celebrations in the name of equity and inclusion.

via The New York Times|

#education #governor-murphy #halloween

politics2 years ago•5 min saved

"Gov. Murphy Secures Controversial $54.3 Billion Budget to Cement Legacy"

New Jersey Governor Philip D. Murphy signed a $54.3 billion budget, a 7% increase from last year's, aiming to burnish his legacy as a prudent money manager while addressing social justice initiatives. The budget includes more funding for public schools, doubles the child tax credit, and expands property tax relief programs. However, critics argue that the reduced corporate tax rate and the StayNJ program, which cuts property taxes for older residents, are unsustainable tax cuts for the wealthy. The budget comes ahead of the state legislative elections in November and includes a record $8 billion surplus, but economic headwinds and the fine-print details of the spending plan may make additional credit upgrades harder to achieve.

via The New York Times|

#budget #fiscal-responsibility #governor-murphy

politics2 years ago•4 min saved

NJ Gov. Murphy Signs Controversial Campaign Finance and Elections Transparency Laws

New Jersey Governor Philip D. Murphy has signed a controversial bill that doubles campaign contribution limits and makes it harder to police campaign spending. The bill also quashes investigations by the Election Law Enforcement Commission, a watchdog agency created 50 years ago to safeguard the integrity of campaign fundraising in New Jersey. The overhaul of New Jersey’s campaign finance rules comes 13 years after a United States Supreme Court ruling in favor of Citizens United unleashed limitless federal spending by corporations and unions.

via The New York Times|

#campaign-finance #election-law-enforcement-commission #governor-murphy