Aug. 5, 2010

CONTACT:
Scott Goldstein
609-989-7888 ext. 113
Scott@njchamber.com

NJ Chamber: State Must Make Cuts to Get Fiscal House In Order

The New Jersey Chamber of Commerce was heartened that both Democratic and Republican legislators expressed opposition to raising taxes as a way to reduce the state's projected budget deficit during an Assembly Budget Committee meeting this morning.

"In order to grow jobs and improve New Jersey's economic situation, Trenton needs to refrain from 'tax and spend' and instead continue to make the necessary cuts to get our state's fiscal house in order," said Michael Egenton, senior vice president at the New Jersey Chamber of Commerce.

"The New Jersey Chamber of Commerce recognizes that balancing the state budget is extremely difficult," Egenton added. "That being said, New Jersey employers continue to struggle in this tough economy. The State Chamber will work with our policymakers to make sure that the next state budget does not overly burden the business community."

The Assembly Budget Committee met this morning to discuss the structural deficit and its impact on the next state budget that will begin July 1, 2011.