NJ Business Coalition urges lawmakers to reconsider corporate transit fee

The coalition says the plan could impact roughly 600 of the state’s largest employers who collectively employ hundreds of thousands of people.

Matt Trapani

Apr 24, 2024, 12:27 AM

Updated 34 days ago

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The New Jersey Business Coalition expressed some of its concerns and opposition to Gov. Phil Murphy’s proposed 2.5% corporate transit fee as a dedicated funding source for New Jersey Transit.
The plan could impact roughly 600 of the state’s largest employers who collectively employ hundreds of thousands of people.
The business coalition met in Trenton on Tuesday. Members shared their concerns about this increase and what this could mean for employers that bring in millions of dollars in net revenue. Business leaders and advocacy groups oppose the idea and are urging the state Legislature to get rid of this tax increase.
The coalition says there is a legitimate concern that large companies may relocate to other states if they get pushed out due to affordability.
“When a company has an opportunity to create its next 100,000 jobs or look for a new facility – they’re going to look for the low-cost state to do it,” said one member of the coalition.
The coalition pointed out the competition in surrounding states across the region and the accessibility these companies have to move elsewhere. They say it sends a negative message to the business community already built in New Jersey.
They're hoping to continue to raise awareness while having discussions with the Legislature as the budget process plays out.


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