The New Jersey Senate today passed a paid leave mandate and tax today on a 21-15 vote, sending the bill to Gov. Jon Corzine. With New Jersey’s economy sputtering and the state ranked at the bottom in business-friendly tax climates, this is a destructive (self-destructive?) vote.
The Commerce and Industry Association of New Jersey issued a press release upon the vote. Excerpts:
“Knowing that New Jersey has lost 10,000 private-sector jobs thus far in 2008, it is remarkable that the legislature would pass a mandate unique to our companies,” said CIANJ President John Galandak. “To do so without a clear understanding of the cost of the program, or the impact on small businesses is irresponsible, and we urge Governor Corzine to veto the bill.”
“The budget season has been full of talk about how to improve New Jersey’s fiscal situation and business climate. The legislature took a step back from that goal today by increasing costs in one of the most expensive states to do business. The disconnect is stunning.” Galandak concluded.
Governor Corzine is a smart man attuned to economic reality and the needs of business. He could break free of the New Jersey partisan dictates that cause so much harm to the state and, at the same time, establish himself as a national leader by vetoing the legislation. It’s a tough call politically, sure, but there’s a great upside in a veto — for the state, above all.
More at NJ Business Matters.
Latest posts by NAM (see all)
- Manufacturers Win Several Website Design Awards - June 15, 2011
- China Makes Commitments on Trade, Intellectual Property - December 16, 2010
- ITC Details Widespread Theft of Intellectual Property in China - December 14, 2010