Webber for Assembly Statement on Business Climate in New Jersey

Morris Plains, NJ -- Assembly candidate Jay Webber today responded to a study released in NJBIZ this week in which CFOs from around the nation rated New Jersey among the worst business tax climates in the United States:

"This study should come as no surprise: job-generating businesses and families are fleeing New Jersey because the Democrats in Trenton are more concerned with their own power than our prosperity. This State needs leaders who understand that we can't tax, spend, and borrow our way to a healthy economy -- we have to control spending and cut taxes to keep and create jobs and help families. That's what I plan to do in the Legislature."

New Jersey Ranked Among Worst on Taxes by CFOs
Yvonne Darling
NJBIZ
1/17/2007

New Jersey placed second, behind California, in a survey on states with the worst tax climate. The survey, called the CFO State Tax Survey and produced by Boston-based CFO Publishing, asked corporate tax officials for impressions of their states' handling of tax-related issues, including audit fairness and the appeals processes. Of the 5,500 tax directors nationwide who received the survey, nearly 300 responded. This is the fifth state tax survey put out by CFO since 1996. According to CFO, “Tax directors rated New Jersey as having the most negative influence of any state on businesses' expansion plans as the state has raised sales taxes and continues to struggle with a fiscal crisis.� New Jersey had been cited as having the worst overall tax environment in 2004, the last year the survey was published.

***