New Jersey is joining the federal government in extending the deadline to file and pay income taxes until July 15, according to a joint statement by Governor Phil Murphy, Senate President Steve Sweeney and Assembly Speaker Craig Coughlin. The State Budget Deadline has been postponed from June 30 to September 30.Read the rest of this entry » Posted: April 1st, 2020 | Author: Art Gallagher | Filed under: COVID-19, New Jersey, New Jersey State Budget | Tags: COVID-19, New Jersey, NJ State Budget, Taxes | 1 Comment »
Senator Declan O’Scanlon, (R-Monmouth), a member of the Senate Budget Committee, make the following remarks in response to Governor Phil Murphy’s proposed budget:
Watch O’Scanlon deliver his remarks:
“This budget won’t lift up the middle class. It will leave generations of New Jersey residents with no hope for a prosperous future.
“Even if the Governor’s rosy projections – of both revenue and savings – are accurate, we are still only a fraction of the way out of the hole we’re in.
“We can’t tax our way out of this mess. Without major reforms, it is a very real possibility that young public workers won’t even have a pension by the time they retire.
“I urge Governor Murphy to come to the table and hammer out a compromise with us. There is no other option,” Senator Declan O’Scanlon (R-Monmouth) said.Art Gallagher | Filed under: Declan O'Scanlon, Monmouth County News, New Jersey, New Jersey State Budget, News, NJ Senate Republicans, Phil Murphy | Tags: 2020 Budget Address, Budget Address, Declan O'Scanlon, Governor Phil Murphy, Monmouth County News, New Jersey, Senator Declan O'Scanlon | Comments Off on O’Scanlon Responds to Murphy’s Budget
By Senator Declan O’Scanlon
So. This is what it’s come to. Incredibly, we just passed one of the largest tax increases in the history of the state…and we’re no more than one, infinitesimal, step closer to sustainable solvency than we were the day before. And trust me, we are very ($ billions) far away. We don’t need infinitesimal steps, we need bold leaps…and we need bold leadership willing to make them.admin | Filed under: Declan O'Scanlon, Monmouth County News, New Jersey, New Jersey State Budget, Opinion, Pensions | Tags: Declan O'Scanlon, Monmouth County News, New Jersey, New Jersey Pensions, Opinion, Pension and Benefit Reform, Senator Declan O'Scanlon | 7 Comments »
The New Jersey Society of Certified Public Accountants surveyed its members regarding the impact New Jersey’s new state budget would have on the state’s economy. More than 75% of the 921 CPA’s surveyed said that the budget signed by Governor Phil Muphy would have a negative impact on the economy, according to an article at NJCPA.com
Art Gallagher | Filed under: New Jersey, New Jersey State Budget, Phil Murphy | Tags: Murphy's budget, Murphy's taxes, New Jersey, NJ State Budget, NJ Taxes | 6 Comments »
Thirty-nine percent felt the economy would get “marginally worse,” and 37 percent said it would get “significantly worse.” Fourteen percent said it would have no impact, and only 10 percent said the economy would get either “marginally better” or “significantly better” under the new budget.
By Assemblyman Ned Thomson
While New Jersey narrowly avoided a second straight government shutdown, the budget agreement that was achieved at the last minute will have a serious impact on area taxpayers that will be felt for years to come.
As a member of the Assembly Budget Committee, I participated in a number of meetings and listened to hours of testimony on Gov. Phil Murphy’s proposed budget that sought to increase spending by more than 7 percent and raise taxes by $1.7 billion. Gov. Murphy and the Democrat majority in the Legislature then spent much of the spring and early part of summer arguing over which of our taxes to raise.
Never, it seems, did they consider reducing government spending nor did the conversation appear to focus on reducing the burden on some of the most overtaxed citizens in the country. In fact, during the debate, serious consideration was given to additional tax hikes, including proposals to increase the realty transfer fee and add taxes to short-term home rentals — two ideas that would have dramatically impacted Monmouth and Ocean County residents. Read the rest of this entry »Posted: July 19th, 2018 | Author: Art Gallagher | Filed under: Monmouth County News, New Jersey State Budget, NJ State Legislature, Opinion | Tags: Assembly Budget Committee, Assemblyman Ned Thomson, Monmouth County News, NJ State Budget, Opinion | 2 Comments »
Former Lt. Governor Kim Guadagno appeared on the Tommy G Show yesterday during which she said that the $2 billion in spending increases and $1.5 billion in new state taxes are insane but that no one should be surprised.
Guadagno said that moderate Democrats who are now calling for spending cuts “sound like Republicans, that’s what we’ve been saying all along!”Art Gallagher | Filed under: Kim Guadagno, Monmouth County News, New Jersey, New Jersey State Budget, Phil Murphy | Tags: Governor Phil Murphy, Kim Guadagno, New Jersey, NJ State Budget, Tommy G Show | 9 Comments »
In his deal made with Senate President Steve Sweeney and Assembly Speaker Craig Coughlin yesterday evening, Governor Murphy agreed to raise the threshold for the so called millionaire tax to $5 million from the $1 million he originally proposed. That was to have meant that fortunate taxpayers would pay 10.75% of their income over $5 million to the Soprano State of New Jersey.
According to a sleep deprived source in Trenton, the fine print Murphy presented the legislature today set the millionaires tax to be triggered at $5 million, but for the 10.75% to be applied on the taxable income over $1 million. Sweeney and Coughlin made a deal that would require a wealthy taxpayer with $6 million in taxable income to pay New Jersey $107,500 in tax on the million earned above the threshold. The legislation Murphy presented would require that taxpayer to pay $537,500. Read the rest of this entry »Posted: July 1st, 2018 | Author: Art Gallagher | Filed under: New Jersey, New Jersey State Budget | Tags: Bad Faith Phil Murphy, Goldman Sachs, Governor Phil Murphy, Sneaky Phil Murphy | 1 Comment »
By Art Gallagher
Governor Phil Murphy, Senate President Steve Sweeney and Assembly Speaker Craig Coughlin announced last night that the had a last minute budget deal to avert a state shutdown and that the legislature would pass the necessary bills this morning starting at 8am.
As of 9:45 a.m. the legislator and many staffers have been in Trenton for three hours, but the bills have yet to be drafted and some of the details…where the devil lives…are still being haggled over, according to a sleep deprived source who called this morning.Art Gallagher | Filed under: Assembly Republicans, New Jersey, New Jersey State Budget | Tags: Assembly Minority Leader Jon Bramnick, Assembly Republicans, Assembly Speaker Craig Coughlin, Governor Phil Murphy, NJ Budget, Senate President Steve Sweeney | Comments Off on Budget deal not ready, Bramnick put Republicans in a box
Governor Phil Murphy, Senate President Steve Sweeney and Assembly Speaker Craig Coughlin came to terms on tax increased in the New Jersey FY2019 Budget today, averting a shutdown of state government.
While the Senate and General Assembly will not vote on the budget legislation before the midnight deadline tonight, Murphy said that he will not close the government. Sweeney and Coughlin announced that their Chambers will be in session at 8:00 a.m. on Sunday morning. Read the rest of this entry »Posted: June 30th, 2018 | Author: Art Gallagher | Filed under: New Jersey, New Jersey State Budget | Tags: Governor Phil Murphy, New Jersey, NJ Budget | 11 Comments »
O’Scanlon legislation would keep road work going, keep Monmouth Park open, in the event of a NJ shutdown
Senator Declan O’Scanlon (R-Monmouth County) announced that he will introduce two bills tomorrow in the NJ Senate tomorrow that, if enacted, would lessen the destructive aspects of a state government shutdown.
Governor Phil Murphy and the Democrat leaders in the legislature, Senate President Steve Sweeney and Assembly Speaker Craig Coughlin, are thus far deadlocked over their competing proposals to raise taxes on New Jersey residents, tourists and businesses. If they are unable to come to an agreement, and get the legislature to concur, by midnight tomorrow, the government will shutdown.Art Gallagher | Filed under: Declan O'Scanlon, Monmouth County News, New Jersey, New Jersey State Budget, NJ State Legislature | Tags: Assembly Minority Leader Jon Bramnick, Assembly Speaker Craig Coughlin, Governor Phil Murphy, Monmouth Park, New Jersey State Budget, NJ Government Shutdown, Senate President Steve Sweeney, Senator Declan O'Scanlon, Transportation Trust Fund | 1 Comment »