Activists, union members raise concerns over Gov. Murphy’s $56 billion budget proposal

Activists, union members and others rallied to ask Gov. Phil Murphy to restore the Full Corporate Tax Surcharge that expired at the beginning of the year.

Tony Caputo

Mar 19, 2024, 4:17 PM

Updated 125 days ago

Share:

Activists, union members and others rallied Tuesday at New Jersey Institute of Technology in Newark to ask Gov. Phil Murphy to restore the Full Corporate Tax Surcharge that expired at the beginning of the year.
The rally was held during the first of two public hearings for Murphy’s proposed $56 billion budget.
New Jersey Policy Perspective says the reduction of the Full Corporate Tax Surcharge from 11.5% to 9% will negatively affect many New Jerseyans.
“We’re going to be losing about $1 billion in revenue,” said Nicole Rodriguez, of New Jersey Policy Perspective. "For the state budget, we’re already seeing with the governor’s proposed budget are a bunch of cuts to important programs and services."
Protestors say wealthy corporations must continue to pay their fair share and this tax break does just the opposite. They also say they are hoping to get this changed in Murphy’s proposed budget before July 1 when it must be approved for the fiscal year.
The second public hearing on the budget will be virtual and is scheduled for March 26 at 10 a.m.


More from News 12
Prosecutor: Driver killed in tractor-trailer explosion on Route 3 in Clifton

Prosecutor: Driver killed in tractor-trailer explosion on Route 3 in Clifton

2:03
Mix of sun and clouds in New Jersey before pop-up showers, storms this evening

Mix of sun and clouds in New Jersey before pop-up showers, storms this evening

1:44
‘Too old.’ ‘A surprise.’ ‘It’s mature.’ New Jersey residents react to Biden’s decision to step down

‘Too old.’ ‘A surprise.’ ‘It’s mature.’ New Jersey residents react to Biden’s decision to step down

0:43
Officials: 1 woman hospitalized with burns; 2 displaced in Elizabeth fire

Officials: 1 woman hospitalized with burns; 2 displaced in Elizabeth fire

2:34
What are the next steps for democrats as Biden drops out of 2024 presidential race?

What are the next steps for democrats as Biden drops out of 2024 presidential race?

1:44
NJ Transit commuters experience another round of delays due to Amtrak overhead wire issue

NJ Transit commuters experience another round of delays due to Amtrak overhead wire issue

What happens to Biden's campaign funds?

What happens to Biden's campaign funds?

2:32
Multiple alarm fire damages Bayonne home; 1 firefighter hospitalized

Multiple alarm fire damages Bayonne home; 1 firefighter hospitalized

2:18
Do you know how accurate your credit report is? Kane in Your Corner shows you how to spot, fix mistakes

Do you know how accurate your credit report is? Kane in Your Corner shows you how to spot, fix mistakes

0:19
Parking garage fire causes Stop & Shop in Union to close

Parking garage fire causes Stop & Shop in Union to close

0:39
Olympics spotlight: New Jersey athletes competing at the Paris Olympic Games

Olympics spotlight: New Jersey athletes competing at the Paris Olympic Games

1:51
Made in New Jersey: The Healing Bras provides relief during painful moments

Made in New Jersey: The Healing Bras provides relief during painful moments

Secret Service director, grilled by lawmakers on the Trump assassination attempt, says: 'We failed'

Secret Service director, grilled by lawmakers on the Trump assassination attempt, says: 'We failed'

1:00
NJ Democratic lawmakers thank President Biden for his service in wake decision to step down

NJ Democratic lawmakers thank President Biden for his service in wake decision to step down

4:22
How VP Kamala Harris could get presidential nomination after the end of Biden's reelection bid

How VP Kamala Harris could get presidential nomination after the end of Biden's reelection bid

1:33
President Biden announces end of 2024 bid for presidency; endorses VP Kamala Harris for pick

President Biden announces end of 2024 bid for presidency; endorses VP Kamala Harris for pick

2:08
National and local lawmakers stunned by Biden's decision not to seek reelection

National and local lawmakers stunned by Biden's decision not to seek reelection

0:56
Belleville church hosts blood drive to combat shortage over summer

Belleville church hosts blood drive to combat shortage over summer

1:01
Edison High School assistant principal accused of making threats to Muslim students

Edison High School assistant principal accused of making threats to Muslim students

0:17
Police: Stratford man killed in motorcycle crash near Tinton Falls

Police: Stratford man killed in motorcycle crash near Tinton Falls