Democratic Gov. McGreevey more than doubled corporate income tax revenues in his first budget in FY2003 by imposing a minimum tax on corporations even if they did not make a profit. This tax increase was regarded as so anti-business that Democratic Gov. Corzine and a Democratic legislature later repealed it. New Jersey’s top corporate tax rate of 9 percent is still one of the highest in the country.
NJ Spotlight News exists in part thanks to generous foundation support, including our founding funders the Community Foundation of New Jersey, the John S. and James L. Knight Foundation, and the William Penn Foundation -- as well as the Robert Wood Johnson Foundation, the Fund for New Jersey, the Peter and Carmen Lucia Buck Foundation, the Wyncote Foundation, and the Healthcare Foundation of New Jersey, and the Nicholson Foundation.
Major funding for NJ Spotlight News provided by Horizon Blue Cross Blue Shield of New Jersey, New Jersey Education Association, New Jersey Manufacturers Insurance Group, Orsted, PSEG Foundation, the Robert Wood Johnson Foundation, and RWJ Barnabas Health.
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Major funding provided for Chat Box with David Cruz provided by New Jersey Manufacturers Insurance Group, New Jersey Education Association, and Fuel Merchants Association of New Jersey. Promotional support provided by InsiderNJ.
Major funding for Reporters Roundtable with David Cruz provided by RWJBarnabas Health, New Jersey Manufacturers Insurance Group, and New Jersey Realtors. Promotional support provided by New Jersey Business Magazine.