AFP and Jersey 1st Statement on Budget Committees’ Passage of $56.6 Billion Budget

Jun 27, 2024 by AFP

Trenton, NJ – Today, Americans for Prosperity and Jersey 1st expressed their disappointment with the New Jersey Assembly and Senate Budget Committees’ recent passage of a record-high $56.6 billion budget proposal for Fiscal Year 2025. The bill now heads to the floor for a final vote on Friday.

AFP Northeast Region Director Ross Connolly and Jersey 1st President and CEO Rosemary Becchi released the following joint statement:

“Today, our legislators once again proved how out of touch they are with everyday New Jerseyans. At a time where inflation is soaring and families are struggling with rising costs, our legislators chose to approve a billion-dollar budget that increases spending and imposes more taxes leaving hardworking New Jerseyans worse off.

“Instead of working to make life more affordable, the Assembly doubled down on reckless policies, like raising the corporate transit tax to the highest in the nation. At a staggering 11.5%, this tax-hike makes it more expensive for business to operate in the state and deters expansion, stifles economic competition, and hinders much needed job creation. Worse yet, the opaque budget process lacks accountability, allowing the legislature to divert these funds into a slush fund for government pet projects rather than using it to address the real issues facing our state, like our failing transit system.

“Bottom line, New Jerseyans deserve better. They deserve leaders who prioritize fiscal responsibility over reckless spending and a system that holds lawmakers accountable when spending our taxpayer dollars. We are calling on our lawmakers to do better and to prioritize pro-growth policies that will create a stronger, more prosperous future for the Garden State.”