Trenton, NJ—Americans for Prosperity (AFP) today testified before the Assembly Committee on Climate and released the following statement calling out A. 3735, the so-called ‘Climate Superfund Act,’ for what it really is: a $50 billion retroactive liability scheme that will drive up costs for New Jersey families and send the wrong message to the state’s business community.
AFP Northeast Region Director Ross Connolly said:
“New Jersey is attempting to pass a $50 billion retroactive tax, which will ultimately fall on New Jersey taxpayers in the form of higher utilities, gasoline, and groceries. It also sends a message to New Jersey’s business community that they could be penalized years later for products they lawfully provided. This kind of uncertainty will freeze investment and job creation in the Garden State.”
“Rather than follow that trend that is spreading across the Northeast, New Jersey has an opportunity to be the state that says no to retroactive punishment and yes to affordable energy, economic growth, and a welcoming business climate. New Jersey’s motto is liberty and prosperity. They can’t coexist with a $50 billion retroactive tax on the people of this state. AFP urges the legislature to reject this misguided bill and prove that New Jersey’s motto isn’t just words on a seal.“
