The latest NJ budget is big on borrowing and spending, which is what some say is needed during this time of crisis. The problem for New Jersey is that our budgets are always big on borrowing and spending, even when times are good. Hence, the debt pile we’ve already created is only getting bigger and will create even more challenges for the State to remain competitive and hold on to its businesses and taxpayers in the future. As is always the case, increased fees, expenses, and taxes will be coming to help keep the ship afloat.
“We get it: You either love the budget or hate the budget. And almost every member of the business community will take the second choice. We ran some of that sentiment here and here. Looking to balance it out, we sought out Brandon McKoy, the head of New Jersey Policy Perspective. Whether you agree with him or not, most feel McKoy makes his cases eloquently. (His take on what is considered a “fair share” drew raves from both sides.) So, we reached out to him on budget day to get his take. Overall, he is supportive of the budget. But he’s not 100% behind it. Not even close. Why?”
Shared by Geoffrey G. Gussis, Esq., a business attorney and technology attorney licensed in New Jersey and New York. Learn more about me, the legal services I provide, and articles I have written. Contact: email@example.com or (732) 898-0549 for a free consultation.
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