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Update by State Director Eileen Kean following the release of the details of Gov. Sherrill’s budget plan on March 24:

Following her budget message that unveiled her proposed SFY 2027 spending plan, Gov. Mikie Sherrill outlined an agenda intended to improve New Jersey’s business climate and expand the state’s economy to make government a more efficient and reliable partner for growth. She has called for streamlining permitting, reducing delays, modernizing state operations to better support employers, and working to create a more predictable environment for companies to invest and hire. Perhaps these are a sign of progress.

The Governor’s proposed budget takes steps to reduce reliance on one-time revenues, from $2.5 billion down to $2 billion, and asks for reforms to the budget process that increases accountability. The $60.7 billion budget proposal with 750 million dollars in higher revenues is the largest in state history, reinforcing the need for long-term structural balance rather than temporary fixes.

Reaction Statement to Gov. Sherrill’s Budget Speech on March 10:

The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy association with thousands of members in the Garden State, released the following statement by NFIB New Jersey State Director Eileen Kean regarding Governor Mikie Sherrill’s first budget address to the legislature this afternoon:

“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 of its membership, showing how energy costs impact their business operations. The new survey collected responses from 775 small business owners across a wide range of industries and across the country, showing that small businesses are deeply impacted by energy use and its costs. Just 8% of small business owners reported that their energy costs had not increased in the last three years.

To download NFIB’s Small Business Energy Survey, click here.

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For more than 80 years, NFIB has been the voice of small business, advocating on behalf of America’s small and independent business owners, both in Washington, D.C., and in all 50 state capitals. NFIB is nonprofit, nonpartisan, and member driven. Since our founding in 1943, NFIB has been exclusively dedicated to small and independent businesses and remains so today. For more information, please visit www.NFIB.com.