New Jersey Policy Perspective: Funding for Business Tax Breaks Shows Skewed Priorities
ITEP Work in ActionThe Fiscal Year 2009 budget proposed by Gov. Jon Corzine increases spending on tax breaks for businesses—tax breaks of questionable value, as some recent developments highlight— while investments in more tried and true economic development tools suffer.
More than ever, it is clear that New Jersey needs to spend state dollars in ways that invest in future economic growth and the wellbeing of residents. Increasing spending on business subsidies, while cutting higher education appropriations and failing to adequately the transportation system, is short-sighted policy that threatens New Jersey’s prosperity.