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Last Minute NJ budget Update Includes South Jersey Projects
Yesterday, on Sunday, the New Jersey Legislature unveiled a small $358.8 million supplemental spending bill with aid for hospitals, towns and World Cup. It is expected to pass into law by tomorrow. Two things jump out: 1) the secretive, murky, rushed budget process for spending items sometimes labeled as ‘pork projects’, and 2) the small…
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Texas v New Jersey Property Taxes
Texas is the state where the political will to abolish the property tax actually exists, and over the next decade it’s the most likely the first place to test replacing some of that revenue with increased consumption taxes. New Jersey is the opposite. We are deeply locked into a high-property-tax, high-aid hybrid system, and nothing…
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Initial Impressions of the Housing Bill
The real estate and construction industries appear to have barely taken notice of the bill as passed, now after they successfully blocking a proposal in earlier versions of the bill. Social media calls the bill The housing bill nobody’s reading closely. A few economists’ reactions in today’s news coverage: “Will it add up to something?”…