Assemblyman Guy Gregg

PROGRESS (SORT OF)!! NEW JERSEY IS ONLY THE SECOND WORST STATE IN THE NATION FOR TAX CLIMATE

CFO SURVEY FINDS NEW JERSEY NEAR THE BOTTOM OF THE LIST AGAIN FOR TAXES, STILL LAST FOR BUSINESS CLIMATE

Assemblyman Guy Gregg today said that you should excuse New Jersey homeowners and business leaders if they are not overly thrilled about a new survey from CFO Magazine which finds that New Jersey has moved out of last place for worst tax climate in the nation -- right into next-to-last place. January 18, 2007
Assemblyman Guy Gregg/973-584-5422
Assembly Republican Office/609-292-5339

PROGRESS (SORT OF)!! NEW JERSEY IS ONLY THE SECOND WORST STATE IN THE NATION FOR TAX CLIMATE

CFO SURVEY FINDS NEW JERSEY NEAR THE BOTTOM OF THE LIST AGAIN FOR TAXES, STILL LAST FOR BUSINESS CLIMATE

Assemblyman Guy Gregg today said that you should excuse New Jersey homeowners and business leaders if they are not overly thrilled about a new survey from CFO Magazine which finds that New Jersey has moved out of last place for worst tax climate in the nation -- right into next-to-last place.

"Somehow I suspect nobody will be throwing any parties over New Jersey moving from 50th to 49th on the list of favorable tax climates for businesses," said Gregg, R-Sussex, Morris and Hunterdon. "Alas, lest we get overconfident, we are still ranked dead last for our ability to encourage businesses to locate or expand in New Jersey."

The survey of business leaders, available at CFO.com, notes that California narrowly edged out New Jersey as having the worst tax climate in the nation, and that New Jersey now has only the second worst tax climate in the nation. Meanwhile, New Jersey still wears the crown for having the most negative influence on the plans of businesses to locate or expand in the state.

This is not a big surprise in that New Jersey ranked 49th among the 50 states in a similar study released last year. That study, the "Tax Foundation's State Business Tax Climate Index" report, showed the state has the highest property taxes, the highest business taxes, the fourth highest individual tax rate, the fourth highest wealth tax and the least hospitable overall business tax climate in the U.S.

"Clearly, these consistently poor rankings are the direct result of the failed policies of the Democrats who have controlled state government for the past five years," said Gregg. "The Democrat tax and spend policies continue to devastate both our residents and businesses. It is time to change course."

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