Oroho: Minimum Wage Increases Wage Increase Will Lead to Lost Benefits for Workers, Less Jobs
Senator Steven Oroho (R-24) said a minimum wage increase signed into law by Governor Phil Murphy today will lead to reductions in other forms of employee compensation.
Sen. Steven Oroho said a minimum wage increase signed into law by Gov. Phil Murphy will lead to reductions in other forms of employee compensation. (Pixabay)
“The legislation signed by Governor Murphy fails to recognize that most employers have a fixed budget for total compensation, which often covers the cost of wages, bonuses, health benefits, life insurance, and vacation time,” said Oroho. “When one of those costs goes up, another cost has to be reduced. By mandating higher wages, the Governor’s action is certain to lead to the elimination of bonuses, a reduction of paid time off, and higher premiums, deductibles, and co-pays for health benefits for many workers.”
Oroho said that kind of compensation trade-off was demonstrated by Amazon when it announced in October that it was raising pay for hourly employees to $15/hour.
Oroho, Singleton Bill to Prohibit Persons from Contracting with the State if Barred from Federal Contracts Passes Senate
Legislation sponsored by Senator Steve Oroho and Senator Troy Singleton which would prohibit a person from contracting with the state for public work if they are barred from receiving a federal contract passed the full Senate today.
Senator Steve Oroho’s bipartisan legislation that would prohibit a person from contracting with the state for public work if they are barred from receiving a federal contract passed the New Jersey Senate. (SenateNJ.com)
“If a person is banned from contracting with the federal government due to fraudulent activity, then they shouldn’t be allowed to profit with public dollars,” said Senator Steven Oroho (R-Morris/Sussex/Warren). “This is a commonsense taxpayer protection, and its passage is overdue. Closing this loophole will prevent bad actors from being able to take advantage, saving New Jersey time, money, and headaches.”
Oroho: Murphy Failed to Address “Path to Progress” Fiscal Reforms in State of the State
Senator Steven Oroho (R-24) expressed disappointment that Governor Phil Murphy failed to address fiscal and structural reforms to lower the cost of government that were proposed by the Economic & Fiscal Policy Workgroup:
Sen. Steven Oroho (R-24) expressed disappointment that Gov. Murphy failed to address government reforms that were proposed by the NJ Economic & Fiscal Policy Workgroup Path to Progress. (SenateNJ.com)
“If the Governor wants to know the real state of the state, all he needs to do is read our Path to Progress report that highlights the significant fiscal challenges that confront New Jersey.
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Oroho: NJ’s Tax Policies Trigger Highest Outmigration Nationwide
NJBIA, WalletHub & Moving Company Reports Highlight NJ’s Growing Tax Troubles
Senator Steve Oroho (R-24) is again calling for action on fiscal reforms, in light of three recent reports that prove that New Jersey’s high cost of living and bad tax policies are forcing people of all ages, and business owners, to leave the Garden State in droves.
Sen. Steve Oroho reiterates his call for action on fiscal reforms in light of three reports that prove that NJ’s bad tax policies are forcing people to leave in droves. (Pixabay)
The most recent report, released by WalletHub on Jan. 14, named New Jersey as one of the worst places in the country to retire. The NJBIA’s 2018 Regional Business Climate analysis also ranked New Jersey as one of the least innovative and business-friendly state in the region. Additionally, United Van Lines, a national moving company, also released a survey earlier this month identifying New Jersey as the number one state for outmigration.
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Bucco & Oroho: NJ’s High Business Taxes, Lax Oversight of Incentive Programs Has Created Environment for Abuse
Call for Implementation of State Comptroller’s Tax Incentive Audit Recommendations
Senator Anthony Bucco and Senator Steven Oroho said New Jersey’s extremely high business tax burden and lax oversight of tax incentive programs have created an environment for the kinds of abuses that were identified in an audit released this week by the State Comptroller. Further, they called for the implementation of the recommendations offered by the Comptroller to address the deficiencies that were found in the State’s tax incentive programs.
Sen. Anthony Bucco and Sen. Steven Oroho said New Jersey’s extremely high business tax burden and lax oversight of tax incentive programs has created an environment for the kinds of abuses identified in an audit by the State Comptroller. (SenateNJ.com)
“With some of the highest business taxes in the nation, New Jersey provides a significant incentive for corporations to try to claim tax breaks they may not deserve,” said Bucco. “While that’s clearly wrong, it’s also incumbent upon the EDA as the organization that oversees tax incentive awards to ensure that tax credits aren’t claimed improperly. Stricter oversight of these programs is more important than ever following the imposition of $1 billion in new business tax surcharges by Governor Murphy last year.”
The Comptroller’s report highlighted a number of deficiencies at the New Jersey Economic Development Authority (EDA), the agency responsible for managing the State’s various business tax incentive programs.
Oroho Bill to Increase School Security Funding Becomes Law
Bipartisan legislation sponsored by Senator Steven Oroho (R-Sussex, Warren, Morris) to increase funding for school security was signed into law.
Sen. Steven Oroho’s bipartisan bill to increase funding for non-public school security has been signed into law. (WikiMedia)
“Improving the safety and security of students and faculty in every classroom is paramount,” Oroho said. “Every student deserves a warm and nurturing environment where they’re not afraid to learn. Every teacher deserves a safe workplace where they can focus on educating. Every parent deserves peace of mind knowing their child is protected when at school. I’m glad our collective effort to better guard against violence in more New Jersey schools is now law.”
Oroho Bills Enacted Into Law
Legislation Aids Business Development/Government Efficiency/Tourism
Three bills sponsored by Senator Steven Oroho (R-Sussex, Warren, Morris) to improve government efficiency and to support New Jersey’s farm to table and manufacturing industries were signed into law.
The first bill, S-2839, will increase funding for manufacturing workforce development, by authorizing a General Fund supplemental appropriation of $250,000 to the NJ Manufacturing Extension Program (NJMEP.)
Three bills sponsored by Sen. Steven Oroho to improve government efficiency and to support New Jersey’s farm to table and manufacturing industries were signed into law. (Wikimedia Commons)
The legislation would also provide direct aid to fund grants in order to employ underserved and underemployed veterans.
“More than 1 million in-state jobs are supported by New Jersey’s manufacturing industry and there are more opportunities popping up all the time,” Senator Oroho said. “As the cost of college continues to climb, many young people, as well as returning workers like veterans, are looking for opportunities that don’t require a traditional four-year degree. By investing in manufacturing workforce development, we can create good-paying jobs and nurture our burgeoning innovation economy.”
Oroho/Bucco/Sarlo/Singleton Bill Would Help Small Businesses & Partnerships Preserve Tax Deductibility
Legislation authored by Senators Paul Sarlo (D-Bergen), Steve Oroho (R-Sussex), Anthony Bucco (R-Morris), and Troy Singleton (D-Burlington) that will preserve the federal deductibility of an estimated $23 billion in state income taxes for small businesses and partnerships has passed the State Senate.
Bipartisan legislation sponsored by Sens. Oroho, Sarlo, Bucco and Singleton will preserve the federal deductibility of an estimated $23 billion in state income taxes for small businesses and partnerships. (SenateNJ.com)
The bill is a product of the Economic and Fiscal Policy Workgroup, the blue-ribbon study group that made recommendations to improve New Jersey’s fiscal practices and economic strength. The legislation is part of the “Path To Progress” initiative.
“This legislation will save hundreds of millions of dollars for the many New Jersey small businesses that are registered as S Corporations and pay their corporate taxes through the state income tax, as well as all of the law firms, medical groups, accounting practices and other partnerships that were created as LLCs,” said Senator Oroho, who is a Certified Financial Planner. “This plan works because the federal tax plan allows businesses to continue to deduct all of their taxes.”
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Senate Passes Bucco/Oroho/Singleton Bill to Let NJ Businesses Challenge State Regulations
New Jersey business owners would finally have the ability to push back against State regulations, under bipartisan legislation sponsored by Senators Anthony Bucco, Steven Oroho, and Troy Singleton. The bill, S-2345, passed the State Senate today.
Bipartisan legislation by Sens. Anthony Bucco, Steven Oroho, and Troy Singleton giving New Jersey business owners the ability to push back against State regulations has passed the New Jersey Senate. (SenateNJ.com)
“We have seen a mass exodus of small business owners in recent years, and many are leaving because of red tape,” Senator Bucco said. “Every business owner should have the opportunity to fight back against rules and regulations that keep them from growing a business here. The New Jersey Regulatory Flexibility Act is a great tool. I hope that this legislation will encourage business owners to speak out and help us cut red tape, so they can stay and prosper in New Jersey.”
Sarlo, Oroho, Bucco, Singleton Bill Would Help Small Businesses & Partnerships Preserve Tax Deductibility
Plan is ‘IRS-proof’ because it returns tax law to entity-level payment system
Legislation authored by Senators Paul Sarlo, Steven Oroho , Anthony Bucco, and Troy Singleton that will preserve the federal deductibility of an estimated $23 billion in state income taxes for small businesses and partnerships was approved by a Senate committee today.
Sens. Paul Sarlo, Steven Oroho, Anthony Bucco, and Troy Singleton’s bill will preserve the federal deductibility of an estimated $23 billion in state income taxes for small businesses and partnerships. (SenateNJ.com)
The legislation, S-3246, will amend New Jersey’s state tax code to the system that was in place prior to 1993 under which S corporations, Limited Liability Corporations (LLC’s) and other business partnerships directly paid the state income tax liability of their owners and partners. Entitled the “Pass-Through Business Alternative Income Tax Act,” the bill would establish an elective entity-level tax to be paid by pass-through businesses and would provide an offsetting credit to taxpayers who receive income from a pass-through business.
“This legislation will save hundreds of millions of dollars for the many New Jersey small businesses that are registered as S Corporations and pay their corporate taxes through the state income tax, as well as all of the law firms, medical groups, accounting practices and other partnerships that were created as LLCs,” said Senator Oroho, who is a Certified Financial Planner. “This plan works because the federal tax plan allows businesses to continue to deduct all of their taxes.”
