November 18, 2008
New Jersey State Senator Bemoans Garden State’s Last Place Ranking in the State Business Tax Climate Index (Asbury Park Press)
"Incentives Needed to Create New Jobs in N.J."
By New Jersey State Senator Joseph M. Kyrillos (R-Monmouth, 13th District)
Our state is home to the most skilled work force, has some of the best entrepreneurial minds in America and has all the makings of an economic powerhouse. So how is it possible that we are creating new jobs at only a fraction of the national average?
The answer is that our government is stifling economic growth. As the Tax Foundation recently reported, New Jersey has the worst tax climate in America - ranked 50th in the nation. New Jersey's corporate tax rates are the seventh highest in the nation. Much of our tax code seems designed to send jobs out of state.
