New Jersey can't afford its anti-business reputation at a time of growing joblessness. Senator Kyrillos implores Governor Corzine to champion economic reform.

The so-called "throwout rule" hurt every business in the state and kept many businesses from locating here. The tax should have been repealed years ago. It certainly can't be tolerated during an economic downturn.

SENATE GREENLIGHTS CODEY-BUONO BILL TO AID STRUGGLING BUSINESSES, ATTRACT NEW INVESTMENTS

TRENTON – The full Senate today approved a bill sponsored by Senate President Richard J. Codey and Senator Barbara Buono that would aid struggling businesses during the current economic crisis, and help New Jersey’s business environment remain competitive with other neighboring states. The Senate approved bill S-2130, which would increase the time period in which a net operating loss (NOL) can be deducted from a corporation’s business tax, from seven to twenty years.

“Now more than ever, this bill is desperately needed,” said Senator Codey (D-Essex). “With many businesses struggling and others facing still unforeseen losses, we need to do all we can to help them weather the storm. This bill will also help New Jersey stay competitive with many of our neighboring states that have similar provisions. Hopefully, it will also encourage new businesses to set up shop here and promote further investment.”

The 2009 New Jersey State Budget  is not the stunning tribute to sound fiscal policy The Trenton insiders  would have you believe, but just a shallow campaign scam that reeks of political showmanship, while failing to address the state’s dire financial woes.