The National Federation of Independent Business (NFIB) responded on March 10 to Governor Mikie Sherrill’s first budget address to the New Jersey legislature, noting the absence of new tax increases and highlighting ongoing concerns about regulatory and energy policies.
The reaction from NFIB matters because small businesses are a significant part of New Jersey’s economy, and changes in state policy can have wide-ranging effects on their operations. The organization represents thousands of small business owners across the state.
Eileen Kean, NFIB New Jersey State Director, said, “NFIB members and small business owners across the state are pleased to see there are no new tax hikes included in Governor Sherrill’s budget. While we are cautiously optimistic, NFIB will have to take a careful look at the tax provision pay-fors in the budget plan to see how they affect small business owners and any unintended consequences they may have. We also look forward to working with Governor Sherrill and lawmakers to bring greater transparency and certainty to New Jersey’s regulatory processes. Additionally, we look to the governor and legislators to make better energy policy decisions in Trenton. Energy costs play a critical and growing role in the operation of New Jersey’s small businesses, and they are often one of the largest costs for owners in operating their business.”
Last month, NFIB released its first energy survey among its membership. The survey gathered responses from 775 small business owners nationwide across various industries. It found that most small businesses have been affected by rising energy costs over the past three years, with only 8 percent reporting no increase during that period.
NFIB has represented small businesses for more than 80 years as a nonprofit, nonpartisan group dedicated exclusively to advocating for independent business owners at both federal and state levels.
Looking ahead, NFIB said it will continue reviewing details of the proposed budget while working with policymakers on issues important to its members.
