EDA Approves First NJ Angel Tax Credit for Investment in Biopharma Firm (via NJ Tech Weekly)
Jonathan Perelman, CPA | Friedman LLP A clinical-stage biopharmaceutical firm is the first beneficiary of an investment from an angel using the New Jersey Angel Investor Tax Credit program. Approved at the New Jersey Economic Development Authority (…
By Matt Rooney, SaveJersey.com
Save Jersey bloggers have spent a lot of time discussing how a minimum wage hike will kill jobs if this fall’s ballot question passes.
What we haven’t discussed at-length is one of the terrible ironies of Big Government’s central planning in New Jersey: many welfare beneficiaries are already receiving significantly more money than they would working for the minimum wage after this proposed increase!
The libertarian CATO Institute released the results of an eye-opening new study this week that found welfare benefits in 35 U.S. states are actually worth more than a minimum wage job. You can click here to read the full report.
Specifically, in our own state of New Jersey, the full government welfare package (TANF, SNAP, housing assistance, Medicaid, etc) is worth $38,782 annually. That works out to roughly $18.62 per hour.
In case you’ve forgotten, Save Jerseyans, New Jersey’s current minimum wage is $7.25, so someone working a 40 hour per week job is earning only $15,080 annually. President Obama previously pitched a $9 federal minimum wage and Cory Booker wants $10.10 per hour. This November, New Jerseyans will vote on a comparatively modest bump (to $8.25 an hour) and, less modestly, whether to constitutionally tie future increases to the Consumer Price Index (CPI).
I’m trying to understand how liberal logic rationalizes this economic incongruity.
Posted: August 22nd, 2013 | Author: admin | Filed under: Economy | Tags: Matt Rooney, Minimum Wage, New Jersey, Save Jersey, Welfare | 3 Comments »
New Jersey’s tax revenues exceeded projections for the seventh consecutive month and income tax collections were the highest ever in June, even without a “millionaires tax.”
The Treasury Department announced yesterday, that income tax collections in fiscal 2013 were 12.4% higher that in fiscal 2012 (the fiscal year ends on June 30) and sale tax collections increased 3.7%.
The State’s fiscal 2013 revenue collections through June totaled $25.6 billion, $1.58 billion higher than in fiscal 2012.
Posted: July 26th, 2013 | Author: Art Gallagher | Filed under: Declan O'Scanlon, Economy, New Jersey, New Jersey State Budget | Tags: Declan O'Scanlon, Economy, Jobs, New Jersey State Budget, NJ Economy, Tax revenues | 1 Comment »
Matthew Morehead, dog groomer and Democratic candidate for Assembly looking confident. facebook photo
Optimism among New Jersey consumers rebounded strongly over the last six months, according to a survey released by the FDU Public Mind Poll this morning.
37% of the 588 residents surveyed said their finances are better than they were a year ago, up from 18% in January and 26% last July.
51% believe their finances will be better in the year to come, up from 34% in January and 38% in July, 2012.
“We’ve not seen numbers this good in quite some time,” said Krista Jenkins, director of PublicMind and professor of political science at Fairleigh Dickinson University. “Despite Hurricane Sandy and an unemployment rate that has left many in the state without work or underemployed, the past year has been good for many Garden State residents.”
72% expect the value of their homes to rise over the next year, compared to only 48% who thought so in January.
“This is an election year, and what people think about their finances is often a big consideration when choosing for whom to vote. Time will tell how strong an influence pocketbook issues will be in shaping the outcome of upcoming elections,” said Jenkins. “One thing is for certain, however, and that’s the rosier view people seem to have these days about the state of their own bottom lines.”
Posted: July 15th, 2013 | Author: Art Gallagher | Filed under: 2013 Election, Economy, FDU Public Mind Poll | Tags: FDU Public Mind Poll, NJ Consumer Confidence | Comments Off on NJ Consumer Confidence Jumps
Assemblywoman Amy Handlin
Legislation that would eliminate the scheduled 10% surcharge on employers’ unemployment insurance tax was cleared by the Assembly Labor Committee today.
The bill, A-4112/A-3675, sponsored by Assemblywomen Amy Handlin (R-13, Monmouth) and Alison Little McHose (R-24, Hunterdon, Morris, Warren and Sussex), postpones the implementation of the surcharge, which is currently scheduled to go into effect on July 1, for one year. An identical bill, S-2404, passed the State Senate unanimously in February.
The Office of Legislative Services estimates that eliminating the surcharge will save employers $300 million in the coming fiscal year.
“The timing of this legislation is critical as we approach the summer season and with the effort to restore the Jersey Shore well underway,” stated Handlin. “Rebuilding communities involves both residential and commercial redevelopment. Companies who invest in our economy would face significant unemployment insurance increases which could impact their hiring decisions. This legislation ensures that the strides made in putting people back to work will not be affected by the cost increases that would have been felt under this surcharge.”
Posted: May 13th, 2013 | Author: Art Gallagher | Filed under: 13th Legislative District, Amy Handlin, Business, Economy, LD 13, Legislature, NJ State Legislature | Tags: Alison Little McHose, Amy Handlin, Unemployment, Unemployment taxes | Comments Off on Handlin’s Legislation Will Spur Job Growth
Assembly Republican Budget Officer Declan O’Scanlon, commended the New Jersey Economic Development Authority for its commitment to Monmouth County’s efforts to rebuild after Superstorm Sandy and redevelop Fort Monmouth.
“We were knocked down by Sandy and the State has been there from the beginning offering a helping hand to get businesses and families back on their feet,” O’Scanlon, R-Monmouth, said. “From providing temporary housing units for families to providing grants and loans to businesses that suffered damage, the authority has been absolutely committed to our region and intends to place staff in our communities – potentially at Fort Monmouth – to ensure easy access to grants and assistance for business owners.”
Posted: April 23rd, 2013 | Author: admin | Filed under: Declan O'Scanlon, Economy, EDA, Fort Monmouth, Hurricane Sandy, Monmouth County, Press Release, Superstorm Sandy | Tags: Declan O'Scanlon, Fort Monmouth, Michele Brown, NJ Economic Development Authority, Press Release, Superstorm Sandy | 8 Comments »By Chris Fotache, Jersey Shore Vacations
Yesterday (April 8th) I attended a press conference at The Breakers in Spring Lake, organized by Assemblyman Dave Rible and Monmouth County Freeholder Director Tom Arnone, which addressed initiatives to bring 2014 Super Bowl travelers to the coastal Monmouth and Ocean Counties.
Super Bowl XLVIII will take place on February 2nd, 2014, at the Met Life Stadium in East Rutherford, NJ, which is within an hour of most of Monmouth County. “Monmouth and Ocean counties are closer to the Meadowlands than people realize,” said Dave Rible. “Our state’s excellent transportation network and first class hotels and dining facilities offer people a chance to take in a part of New Jersey that will play an important role in next February’s most watched event. Our rebound from last year’s superstorm is well under way. The beach communities don’t close after Labor Day. The partners we have assembled will make sure visitors are aware of the Shore’s year-round attractions and are worth a visit during their stay leading up to the Super Bowl.”
Tom Arnone, who spearheads initiatives to strengthen Monmouth County’s economy and create jobs stressed the importance of tourism to the local economy: “A vibrant tourism industry is an integral part of our economy in Monmouth County and being involved with the Super Bowl will be a tremendous boost for our local businesses. I look forward to working with local merchants to use this historic event to bring more tourism and more business to Monmouth County.”
The event was attended by local politicians (also including Freeholders Serena DiMaso and John Curley, and Asbury Park Economic Development Director Tom Gilmour), business leaders (Evelyn Mars and Adam Puharic from the Southern Monmouth Chamber of Commerce, Bob Hilton from the Jersey Shore Convention and Visitors Bureau, Chris Fotache from Jersey Shore Vacations) and tourism officials (NJ Tourism Director Grace Hanlon and Monmouth Tourism Director Jeannie De Young). Special guests were two-time Super Bowl winner with the NY Giants, Lee Rouson, and former NY Jets star Joe Klecko.
Nate Beeler, The Columbus Dispatch
Editorial cartoons are sponsored by New Markets Realty, 146 Maple Ave, Red Bank. 732-741-8211. Jim Giannell, President
Posted: March 7th, 2013 | Author: admin | Filed under: Cartoons, Economy, Sequestration | Tags: cartoons, Columbus Dispatch, Nate Beeler, Sequester, Sequestration | Comments Off on Squester BlameGovernor Chris Christie blasted Washington over sequestration and the general state of dysfunction in the national capitol during a press conference at Metropolitan Family Health Network, Women’s Health and Pediatrics Unit in Jersey City this morning.
CPAC will not have a speaker this good.
Posted: March 4th, 2013 | Author: Art Gallagher | Filed under: 2013 Election, 2013 Gubernatorial Politics, Chris Christie, Economy, Sequestration | 3 Comments »© Copyright 2024 | MoreMonmouthMusings | All Rights Reserved