NJ Chamber of Commerce President Tom Bracken spoke out against a proposed new tax on health insurance (in ROI-NJ here). The new tax supposedly is to replace the federal tax that was repealed and shore up NJ’s insurance exchanges, but Bracken does an excellent job of refuting this.
The bottom line is that when facing revenues shortfalls, our state government’s first reaction isn’t to reduce the cost of government, it is always to raise taxes. The last thing struggling NJ citizens and businesses need right now is higher taxes. Is it any wonder that NJ has one of the worst out-migrations of people, businesses and wealth of any state?