People are fed up with taxes that continue to rise. I believe that our economic crisis is caused by poor leadership and cannot be solved by raising taxes. Our legislators must be held accountable for their pattern of mismanagement such as underfunding the pension plan and raiding the transportation fund to cover other shortfalls. I propose:
- Reducing expenses by leveraging shared services across NJ’s 565 municipalities and 599 school districts.
- Getting back to growing the economy with small-business incubator and micro loan programs.
- Modernizing NJ’s regulatory environment to increase incentives for entrepreneurs.
- Addressing outdated regulations that drive up costs like requiring a principal or superintendent in every school building.
How much does New Jersey collect in state taxes?
New Jersey’s revenue for FY17 is $34.6B.
What are the sources of revenue for the state of New Jersey?
|FY 2017 Revenue||34.6 Billion|
|Income Tax||14.0 Billion|
|Sales Tax||9.6 Billion|
|Corporation Business Tax||2.5 Billion|
What does the state of New Jersey fund with our taxes?
|43% State Aid: includes education aid programs, school construction debt, municipal aid, general assistance and aid to county colleges.|
|29% Grants-In-Aid: includes property tax relief programs, NJ FamilyCare, PAAD, nursing home and long-term services and supports, and support for higher education.|
|10% Executive Operations: includes adult prison and juvenile facilities, State Police and law enforcement, children and families, human services institutions and veterans’ homes.|
Almost 40% of NJ’s revenue goes to education:
|Aid to Schools||9.2 Billion|
|Pensions/Retirement for Teachers||3.2 Billion|