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Budget

No 401(k)? NJ Lawmakers Try to Give Private-Sector Workers Another Way to Save

John Reitmeyer | December 10, 2018 | Budget

For people working in companies that don’t offer retirement accounts, legislators want to set up a pathway to building a nest egg

NJ Businesses Mixed on 2019; $15 Minimum Wage A Concern as Bill Is Unveiled

John Reitmeyer | December 7, 2018 | Budget
As a key lawmaker releases a new wage bill, companies report that business in New Jersey is going well but they say not well enough for a much higher mandatory wage
Small Businesses Get the Love from NJ After Years of Tax Breaks for the Big Guys
John Reitmeyer | December 3, 2018 | Budget
Murphy administration changes state’s economic-development focus. A new loan program, other supports on offer after years of billions of dollars in sweeteners for big companies
New Jersey, Worst of All the States for Spending More Money than It Raises
John Reitmeyer | November 26, 2018 | Budget
When it comes to maintaining fiscal balance, the Garden State places dead last. Only Illinois comes close to such a poor record
Quirky and Convoluted: Business as Usual for State’s Homestead Tax Relief
John Reitmeyer | November 21, 2018 | Budget
Residents looking to popular program for pain relief from high taxes on their homes may want to skip the fine print and get to the bottom line — applications must be submitted by November 30
State Is Counting on Tax Amnesty to Raise at Least $200 Million
John Reitmeyer | November 19, 2018 | Budget
We’ll soon find out if lawmakers were right that tax delinquents could be cajoled into paying up. If they’re wrong, the budget probably will need to be adjusted
Major South Jersey Employer to Start Paying $15 Minimum Wage in 2019
John Reitmeyer | November 14, 2018 | Budget
Cooper University Health Care’s new pay rate will benefit hundreds of Camden residents. Chairman George Norcross suggests other healthcare companies should follow Cooper’s lead
Atlantic City Gets Higher Credit Rating but Economic Questions Still Hang Over It
John Reitmeyer | November 8, 2018 | Budget
The resort city’s debt grade tumbled to ‘junk’ status during the Great Recession. New rating reflects improvements after state takeover
S&P Notes Progress but Ranks NJ’s Among Worst-Funded Pension Systems
John Reitmeyer | November 1, 2018 | Budget
Report by credit-rating agency underlines immense long-term challenges to bringing New Jersey’s state pensions onto sound footing
Tipped Workers’ Baseline Pay Is as Little as $2.13 an Hour, New Move to Raise it
John Reitmeyer | October 31, 2018 | Budget
Amid broader concerns about income inequality in New Jersey, effort to ensure tipped workers will be in line for a significant raise if general minimum wage is increased
GOP Lawmaker Calls on NJ Democrats to Reconsider Middle-Class Tax Cuts
John Reitmeyer | October 29, 2018 | Budget
Assemblyman Anthony Bucco says targeted cuts would prevent ‘bracket creep,’ eliminate a penalty on married couples, and incentivize retirement savings
Lawmakers Want to Ease Burden of Fuel-Tax Increase for School Districts
John Reitmeyer | October 24, 2018 | Budget
Measure might bring some financial relief to school districts, but would it just shift the tax burden onto other motorists?
$500M in New State Debt on November Ballot: Will Voters Be as Giving as Ever?
John Reitmeyer | October 23, 2018 | Budget, Elections 2018
General-obligation bonds would fund expansion of vo-techs and other upgrades to educational facilities
New Jersey’s Tax System Ranked among Fairest in the Country
John Reitmeyer | October 18, 2018 | Budget
Report by left-leaning institute cites progressive income-tax structure and fact that Garden State doesn’t overly rely on sales tax
Grewal ‘Proud to Lead’ Latest Challenge to IRS on Federal Tax Changes
John Reitmeyer | October 15, 2018 | Budget
The Internal Revenue Service proposed new rules to stymie ‘blue’ state efforts to get around a federal cap on SALT deductions. Attorneys general reveal how they plan to fight back
Web Guide to NJ Property Taxes: Everything Except Why They’re So High
John Reitmeyer | October 11, 2018 | Budget
Online guidebook walks residents through all the aspects of property taxes, including how the revenue is divvied up, using easy to understand graphics and examples
Countdown to New State Sales Tax on Online Shopping
John Reitmeyer | October 9, 2018 | Budget
The big holiday retail season is almost upon us. Likewise, a new state tax on online sales that’s expected to bring New Jersey hundreds of millions of dollars in revenue
Making Case for Public Bank in NJ, Even as Murphy Plan for It Hasn’t Materialized
John Reitmeyer | October 5, 2018 | Budget
Governor was a big proponent of a state-run bank when on the campaign trail, but he’s said little about it since he’s been in office
Will NJ Employers Be Obligated to Ensure Federal Tax Break for Commuters?
John Reitmeyer | October 4, 2018 | Budget
New Jerseyans, like other Americans, can get a nice tax benefit for their commuting costs, but only if their employers sign up for it. State lawmakers want to make that a requirement
Thousands of Amazon Workers in NJ to Benefit from New $15 Minimum Wage
John Reitmeyer | October 3, 2018 | Budget
Online retailer will apply increase from November 1. Decision draws out supporters of statewide wage increase, Gov. Phil Murphy included
Murphy’s Technology-Driven Tomorrow Starts with $500M Venture Capital Fund
John Reitmeyer | October 2, 2018 | Budget
In major policy address, governor envisions 300,000 new jobs by 2025, says aggressive clean-energy goals and increased financial aid for community college will help state reach that number
Sweeney Panel Proposes ‘401(k) Pension’ for Some State, Local Workers
John Reitmeyer | October 1, 2018 | Budget
Unions are already mobilizing against key recommendation from Senate President’s fiscal policy experts, who say pension change could save the state billions of dollars
Public Pension Funds Beat Expectations for 2018, Might Be Hard to Repeat
John Reitmeyer | September 28, 2018 | Budget
New Jersey has one of the worst-funded public retirement systems in the country. But it got good news yesterday, with better than expected investment returns
After a Few Glitches, Lucrative Tax Credits for AC Airport Are Almost There
John Reitmeyer | September 28, 2018 | Budget
Plan to diversify the South Jersey economy with a ‘growth zone’ focuses on aviation and technology. But further incentives are up in the air
State Issues New Rules on SALT Workaround And Gives Warning About IRS
John Reitmeyer | September 26, 2018 | Budget
Attorney General says he will fight IRS in court if need be, as Murphy administration looks to help residents avoid hefty tax hikes because of federal cap on deductions
Bigger NJ Tax on Aviation Fuel Advances, United Airlines Not Pleased
John Reitmeyer | September 25, 2018 | Budget
Millions of dollars in increased revenue eyed to fund extension of PATH train service to Newark airport. United spokesman raises prospect of re-evaluating future investments in New Jersey
NJ Among Most Vulnerable States if Recession Hits — Ratings Analysts
John Reitmeyer | September 24, 2018 | Budget
Moody’s, S&P fault Trenton’s reliance on last-minute scrambling for one-time sources of revenue, inadequate reserves, and absence of sustainable fiscal policies
Murphy’s Revisions to Public-Employee Health Plans Could Save Taxpayers $500M
John Reitmeyer | September 18, 2018 | Budget
Workers should see only slight increases to premiums, or possibly small reductions, while governor claims the deal shows what happens when cooperation replaces conflict
As Gas Consumption Sags in NJ, State Tax on it Set to Rise Next Month
John Reitmeyer | September 17, 2018 | Budget
Further increases are possible, linked to maintenance of funding for transportation and infrastructure projects
Dollar Signs and Smiles All Round After First Three Months of Sports Betting
John Reitmeyer | September 14, 2018 | Budget
Gamblers in New Jersey bet close to $100 million on sporting events last month. Operators and lawmakers salivate at prospect of growing revenue
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