Senator Urges Murphy to Focus on the Economy, in light of reports that NJ lost 7,700 jobs last month
In light of recent reports highlighting New Jersey’s continued economic decline, Senator Joe Pennacchio (R-26) today urged Governor Phil Murphy to stop pushing to legalize pot and start pushing for job creation.
Pennacchio’s call for action follows news that New Jersey lost 7,700 jobs in February, according to new data by the U.S. Bureau of Labor Statistics. New Jersey also lost at least 2,300 jobs in December of 2018 alone.
Additionally, this week the NJBIA released their 2019 Climate Analysis, which indicated that New Jersey continues to have the worst business climate, highest property taxes, highest sales tax, and highest income tax in the region.
“The cost of doing business in New Jersey is spiraling out of control and we are losing good-paying jobs left and right,” Senator Pennacchio said. “At a time when nationally, unemployment has reached historic lows, New Jersey lost more than 10,000 jobs in December and February alone. We cannot turn a blind eye to the bleak economic indicators highlighted in these reports. New Jersey business owners don’t need us to legalize weed – they need this administration to stop vilifying and punishing them with regulations and high taxes.
“Governor Murphy needs to wake up and face the facts. Let’s stop the push for pot and start promoting practical policies that will create jobs and encourage more innovators to set up shop in the Garden State.”
The NJBIA report released this week highlights that while New Jersey was last in the region last year, its rating has dropped even more due to the introduction of additional tax hikes in 2018.
Another recent report by Society of Certified Public Accountants (NJCPA) report also revealed that 70 percent of New Jersey CPAs believe that the Governor’s budget proposal will hurt the state’s economy.
On March 27, Governor Murphy addressed nearly 400 Chamber of Commerce Southern New Jersey members to discuss his business economic proposals and goals. POLITICO reported that “there wasn’t much applause from the crowd,” and that the chairman of the chamber,” acknowledged that a lot of his organization’s members don’t agree with many of Murphy’s policies.”
“The crowd’s silence during Gov. Murphy’s speech to the South Jersey Chamber of Commerce yesterday speaks volumes,” Pennacchio added. “Gov. Murphy’s high business taxes and excessive spending will not make our state stronger or fairer. We must work together to create jobs and cut red tape. It’s time for the Governor to give up on pot and focus his advocacy efforts on making New Jersey a better place to do business.”