NJSpotlight.com’s John Reitmeyer took a deep-dive into Garden State Initiative’s new research report - Adding It All Up: An Impartial Look at New Jersey’s $117 Billion Government:
NJBiz.com’s Daniel J. Munoz reviewed Garden State Initiative’s new research report: Adding It All Up: An Impartial Look at New Jersey’s $117 Billion Government:
“GSI, according to the report, plans to scrutinize spending on student-transportation services, school facilities, government inspection and the road maintenance process as areas of potential savings at upwards of $1 billion.”
“Why do four different layers of government need to plow the streets?” reads the report. “Why do so many school districts need to manage their own student transportation needs?”
The irony was not lost on many people when Governor Phil Murphy bragged during his recent State of the State address that “In 2018, New Jersey saw the lowest increase in statewide average property taxes on record.” Republican legislators and many Democrats were quick to point out that the slowed rate of growth is a direct result of a policies that predated Murphy.
John Reitmeyer of NJ Spotlight writes on last week’s state revenue report which showed tax revenue coming in well below projections and cites analysis offered by GSI:
“But an analysis of the same tax-collection data by the Garden State Initiative, a right-leaning think tank based in Morristown, suggested only 2.1 percent growth in tax collections through the first half of the fiscal year is a cause for real concern. The pace of growth will have to “accelerate geometrically” through the final six months of the fiscal year to meet the year-end goal of 7.5 percent, the group’s analysis said. “
Garden State Initiative (GSI) analysis of the state’s monthly jobs report for December 2018 shows the state economy lacks forward momentum. The report showed job losses in December paired with a shrinking workforce over the year.
“This has been a troubling week for New Jersey’s economy,” said Garden State Initiative President Regina M. Egea. “We’ve seen the slow job growth of recent months come to a full stop and state revenue falling well below projections. These two reports send a clear message to the Administration to avoid further policy shifts that would hamper job creation.”
“While the Governor is offering his State of the State address today, there can be no mistake that the state of our economy is tenuous as reflected in weak state tax revenue,” said Garden State Initiative President Regina M. Egea. “The underpinnings of our state economy, with high taxes and heavy debt, leave us ill-prepared for an inevitable economic cycle slowdown.”
GSI’s president, Regina M. Egea, was interviewed by Politico New Jersey’s Ryan Hutchins for a piece previewing Governor Phil Murphy’s State of the State address and first year in office:
“They’re talking past one another, almost,” said Regina Egea, president of the Garden State Initiative think tank and a former chief of staff to Christie. “They’ve got to figure out how to work together. Nobody’s getting what they want.”
On the heels of the state comptroller’s audit of New Jersey’s tax incentive programs, we can expect politically-charged debates and finger-pointing about who is to blame for the lack of transparency and ultimately, what level of tax incentives are needed to retain or lure businesses and their jobs to New Jersey?
The question we should be asking is: Why are these tax credits needed in the first place?
GSI’s president, Regina M. Egea, was interviewed by Politico New Jersey’s Katherine Landregan for a piece on the stalemate between Governor Phil Murphy and the legislature over a $15 minimum wage bill:
Regina Egea, former chief of staff to Gov. Chris Christie, says this is yet another example of the Legislature setting the agenda over the governor’s office.
“The Legislature’s defined the playing field; they are defining the pace and putting the front office on defense,” said Egea, who now heads Garden State Initiative, a right-leaning think tank in the state.
John Reitmeyer of NJ Spotlight writes on the outlook for New Jersey’s economy in 2019, with analysis offered by GSI’s president Regina Egea:
“But Regina Egea, president of the Garden State Initiative, a right-leaning think tank based in Morristown, suggested there is also some cause for concern in her own recent assessment of the state economy. A former state Treasury official who served under Republican Gov. Chris Christie, Egea said growth in the state’s overall labor market is still trailing the nation’s as a whole. Murphy’s refusal to rule out new tax hikes in 2019 is also a concern, she said.
“We continue to see the effects of a hostile climate for business, and the governor’s threat of new and higher taxes creates an environment of uncertainty for residents and businesses,” Egea said.”