Jersey City Mayor Steven Fulop, the only declared candidate for governor, has started a petition to extend the Corporate Business Tax and dedicate the revenue to NJ Transit, a concept he mentioned as part of his statewide transportation plan in August.
By John Heinis/Hudson County View
“NJ will soon cut taxes by over $1 billion for major corporations Amazon, Walmart and more by letting the state’s 2.5% surcharge on corporate business tax expire. Meanwhile, NJ Transit is facing a looming budget deficit, threatening rail and bus services for residents across the state. It doesn’t make sense,” Fulop posted on social media.
“I’m standing behind our community advocates and pushing back and calling on Governor Murphy to stop this corporate giveaway by extending the Corporate Business Tax surcharge and dedicating the revenue to NJ TRANSIT. I hope you join me in signing and sharing this important petition …”
The petition, started today, currently has 387 signatures.
Last week, Gov. Phil Murphy (D) said at a New Jersey Business and Industry Association event last week that he was steadfast in letting the CBT sunset at the end of the year, as The Record reported, while Senate President Nick Scutari (D-22) is in favor of Fulop’s idea.
In what could potentially be a preview for 2025, Republican consultant Chris Russell, who ran expected GOP gubernatorial nominee Jack Ciattarelli’s campaign in 2021 (he has said he will run again), mocked Fulop’s plan on Twitter.
‘I’m running for Gov to keep #NJ’s business taxes the highest in America.’ – @StevenFulop Good plan. I’m sure all the states taking our jobs will be rooting for your success,” Russell wrote.
“I was curious who you are so I googled it. Between consulting for Jack Citarelli’s campaign, consulting for Tom MacArthur’s campaign, and your track record of losers…. If I was you, I wouldn’t worry too much about paying the corporate surcharge tax bc it’s pretty clear your company doesn’t look to be very successful,” Fulop fired back in response.
