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 »
Social-distancing measures have sent consumer spending into a tailspin, a sharp downturn felt all across the state economy that’s reducing revenues in all sectors
Gov. Phil Murphy’s administration has put nearly $1 billion in planned spending in reserve in response to ongoing concerns that the coronavirus outbreak could take a huge chunk of revenue out of the state budget.
Among the fiscal year 2020 appropriations that have been sidelined by the administration’s spending freeze is $142 million that was supposed to cover the next installment of the state’s popular Homestead property-tax relief benefits, which was due to be paid out to thousands of New Jersey residents to help offset their sky-high property-tax bills in May.admin | Filed under: New Jersey, News | Tags: COVID-19, Governor Phil Murphy, New Jersey, NJ State Budget | Comments Off on As COVID-19 Heats Up, Governor Puts $1B in Planned Spending in Deep Freeze
Direct Support Professionals Asking for $16.5 Million to Cover Minimum Wage Increase
When the Democrats in Trenton passed legislation in 2019 to increase the state minimum wage incrementally until it reaches $15 per hour in 2024, Senator Declan O’Scanlon and Republicans in both houses warned of the consequences for New Jersey taxpayers, those providing essential services and those that depend on those services.
Two months after the implementation of the second annual increase raising the state hourly minimum from $10 to $11, O’Scanlon’s cautions are being proven. Read the rest of this entry »Posted: February 24th, 2020 | Author: admin | Filed under: Declan O'Scanlon, Monmouth County News, New Jersey, Press Release | Tags: Declan O'Scanlon, New Jersey Minimum Wage, NJ State Budget, Press Release, Senator Declan O'Scanlon | Comments Off on O’Scanlon: Minimum Wage Increase Has Created Budget Challenge. What to Watch For In Proposed Budget
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 »
The Democrat debate in Trenton over which taxes to raise on New Jersey residents and by how much ended last evening with no deal. Voting sessions scheduled for today in the Assembly and the Senate where cancelled. Legislators were told to report to Trenton on Saturday.
If Governor Phil Murphy, Senate President Steve Sweeney and Assembly Speaker Craig Coughlin do not make a deal that is approved by the legislature by midnight on Saturday, New Jersey’s state government will shutdown for the second consecutive year.
Governor Murphy wants to increase income taxes on millionaires and the sales tax on everybody. Sweeney and Coughlin want to raise taxes on businesses to the highest in the nation, expand the sales tax to internet purchases, real estate sales, and impose a new tax on vacation rental homes and Airbnb rentals.Art Gallagher | Filed under: New Jersey, New Jersey State Budget, Phil Murphy, Stephen Sweeney | Tags: Assembly Speaker Craig Coughlin, Assemblywoman Serena DiMaso, Governor Phil Murphy, New Jersey, New Jersey Legislature, news, NJ State Budget, Senate President Steve Sweeney | 1 Comment »
As part of their compromise with Governor Phil Murphy over how many taxes to raise and by how much in the new state budget, the Democrat leaders of the legislature have proposed taxing seasonal rentals of vacation homes and Airbnb rentals.
Senator Declan O’Scanlon and Assemblywoman Serena DiMaso came out against a seasonal rental tax, which will have a disproportionate impact on Jersey Shore property owners, in a statement issued this afternoon.Art Gallagher | Filed under: Declan O'Scanlon, Jersey Shore, Monmouth County News, New Jersey State Budget, Serena DiMaso | Tags: Assembly Speaker Craig Coughlin, Assemblywoman Serena DiMaso, Democratic Leadership, Monmouth County News, New Jersey, NJ State Budget, Senate President Steve Sweeney, Senator Declan O'Scanlon, Summer rentals | 3 Comments »
In an effort to get a State budget passed by Saturday and avert a government shutdown, Governor Phil Murphy offered a compromise between his proposed budget and the budget that passed in the Democrat controlled legislature last week, according to NJBiz.
Murphy has previously threatened to veto or line item veto the legislature’s budget.
According to NJBiz, Murphy has proposed a lower corporate business tax increase than the legislature passed and to phase in the sales tax increase proposed over two years. The Governor said he would accept the School Funding Formula proposed by Senate President Steve Sweeny, which has passed the legislature. Read the rest of this entry »Posted: June 26th, 2018 | Author: Art Gallagher | Filed under: Monmouth County News, New Jersey, Phil Murphy | Tags: Assembly Speaker Craig Coughlin, Governor Phil Murphy, NJ State Budget, Senate President Steve Sweeney | Comments Off on Murphy blinks: Offers Legislature budget compromise
Will the State government shutdown this weekend? How much will your taxes go up? Will New Jersey elect Bob Hugin, a Republican, to the United States Senate or send disgraced Senator Bob Menendez back to Washington for six more years? Why are Democrat congressional candidates running away from Nancy Pelosi and Republicans equivocating on their support of President Trump?
Tune in to The Tommy G Show this afternoon at 4:06 to hear Tommy and MMM publisher Art Gallagher banter about the shenanigans in Trenton and Washington.Art Gallagher | Filed under: Monmouth County News, New Jersey | Tags: 2018 elections, 2018 U.S. Senate election, Art G and Tommy G, Monmouth County News, New Jersey, NJ State Budget, Tommy G Show | Comments Off on Art G and Tommy G talk Jersey Politics this afternoon