The New Jersey Chamber of Commerce appreciates the Sherrill administration’s openness, transparency, and straightforward approach in communicating today about the state’s fiscal challenges as the governor’s new team prepares its inaugural state budget. We also appreciate the clear acknowledgment that addressing this situation will require difficult but necessary decisions, including cutting expenses.

We look forward to hearing more specific details when additional information is released on March 10.

The cost-cutting outlined by Gov. Mikie Sherrill and Treasurer Aaron Binder is part of the equation. The other aspect that needs to be addressed is sustainable long-term, organic sources of revenue to support future budgets. This combination will help pull the state out of its dire fiscal situation. While cost-cutting must remain the priority, we support targeted, low-cost, pro-business policies that help companies grow and expand.

We are encouraged that the governor is seizing the opportunity to finally get our fiscal house in order and bring an end to the exorbitant spending of the past. We look forward to hearing more on March 10 about a new path forward that will lead New Jersey toward long-term prosperity.

-Tom Bracken, President & CEO, New Jersey Chamber of Commerce