Senator Joseph Kyrillos (R-13) made this statement after learning the Small Business & Entrepreneurship Council ranked New Jersey’s tax system dead last among the 50 states for its treatment of entrepreneurs and small businesses. Only the District of Columbia scored lower in this ranking.
“Thank goodness for the District of Columbia, or there’d no place in the U.S. apparently where small businesses and entrepreneurs are made to feel more unwelcome than in New Jersey.
“Incredibly, New Jersey’s Democratic leaders seem oblivious to how much long-term damage these tax policies are doing to the state’s future. If they understood the urgent need for change, I’m confident they’d act immediately to ease the twin burdens of overtaxation and excessive regulation on the businesses we depend on to create jobs in our state.
“It’s no wonder that New Jersey has gone from being the economic engine of the entire Northeast in the 1990s to the leading state in the nation for job loss so far in 2008. In just six short years, we have almost destroyed a hard-earned reputation for business-friendly policies that played a crucial role in the creation of prosperity we enjoy in our state.
“New Jersey is a great state with a smart work force located in the perfect location to prosper from the high-earning populations of the New York and Philadelphia metropolitan areas. We have to restore ourselves to our rightful place as the top tier economy in our region.”
To see the report, use the following link:
http://www.sbecouncil.org/uploads/BusinessTaxIndex2008.pdf
http://www.sbecouncil.org/news/display.cfm?ID=2645
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October 6, 2008
