The U.S. and N.J. economies remain sluggish, and governors and mayors must take their own initiatives to boost their local economies to create jobs.
Governor Christie has focused on fiscal restraint, essential, but only one aspect of getting our state’s economic and fiscal house in order. The governor hasn’t been aggressive enough on the economy!
Governor Christie should consider: freezing property taxes a couple years; create urban enterprise zones; deregulate small businesses; exempt buyers of foreclosed properties from future capital gains taxes on such assets; and provide R&D tax credits to companies and entrepreneurs who agree to make their new products only in N.J. for at least a decade.
Fiscally, the governor can also do a better job: cap spending; sell state assets; combine or privatize state services/agencies; implement market reforms to lower health care costs; and initiate a tax amnesty, like Governor Corzine’s.