The New Jersey Chamber of Commerce applauds the Sherrill administration for delaying implementation of the PACT/REAL climate rules by one year to allow for additional study and broader stakeholder engagement on regulations that could have significant economic consequences. While protecting communities from environmental threats is critically important, the business community remains concerned that these rules could dramatically increase the cost of building and redevelopment across New Jersey, ultimately driving up housing prices for residents and making future development extremely difficult.
Gov. Sherrill has made affordability and lowering costs for New Jerseyans a priority, and we appreciate the administration taking the time to ensure these regulations are carefully reviewed and balanced appropriately. The State Chamber looks forward to working collaboratively with the administration and the New Jersey Department of Environmental Protection to make sure we get this right for New Jersey’s residents, businesses, and future economy.
—Michael Egenton, EVP, Government Relations, New Jersey Chamber of Commerce
Read New Jersey Department of Environmental Protection news release