ROI-NJ: Budget Compromise Still Working Its Way Through Legislature on Sunday; some suggest snag on combined reporting

Regina Egea, president of Garden State Initiative, said in an email Sunday morning that the budget deal was a bad one.

“Taxpayers and job creators are once again being treated like a no-limit credit card, which they will cut up when they flee to other states,” she said.

Egea, a former top official in Gov. Chris Christie’s administration, said the immediate consequences are apparent.

“The worst business climate in the nation continues a downward spiral,” she said. “With higher business taxes, we have created more incentives for job creators to relocate out of state.

“The exodus of taxpayers, especially those who comprise the majority of the 1 percent who contribute the 40 percent of our total income taxes collected, will continue unabated and intensify.”

Read the full article here