Corporate Taxes And Public Transportation: Debate Rages In New Jersey
New Jersey is considering raising taxes on businesses that earn more than million per year to create a dedicated funding source for NJ Transit, which is facing a financial shortfall. Business lobbyist groups are pushing against the proposal, arguing that it could lead to companies leaving the state or making investments elsewhere. Advocates for the tax increase argue that it would only apply to the top 1 percent of corporate filers and that these companies have benefited from tax cuts in the past.