NFIB has expressed its disappointment with the State Fiscal Year 2026 budget, amounting to $58.8 billion, which was signed into law by Governor Murphy on June 30. The organization acknowledged the impact of its members’ advocacy efforts in ensuring that the proposed 6.625% tax on sports and activities such as fishing, golfing, bowling, surfing, and pickleball was not included as a revenue measure.
The budget, which includes a structural deficit of $1.5 billion due to spending levels exceeding revenue, incorporates other tax increases. These include higher fees on the sale of commercial and residential properties valued at over $2 million, taxes on casinos’ online wagering wins, cigarettes, and electronic cigarette fluid.
NFIB stands against these new taxes, emphasizing that New Jersey is already among the highest-taxed states in the nation. The organization calls for more competitive budget policies that support small businesses.
“Thanks to the great work of NFIB membership our voice was heard loud and clear.”
“The Governor’s proposed 6.625% tax on sports and activities like fishing, golfing, bowling, surfing, pickleball, and more were not included in the budget as a revenue raiser.”
“New Jersey needs budget policies that are more competitive and promote small business.”
