On the recent episode of “Minding Your Business” on News 12+, NJBIA Chief Government Affairs Officer Christopher Emigholz discussed the FY25 State Budget and a new $1 billion tax imposed on New Jersey’s largest employers. Emigholz expressed doubts about whether the tax revenue would be allocated solely to NJ TRANSIT, its intended beneficiary.
“Investing in mass transportation is critical for the economy of the state and that’s a good thing to figure out how to fund that,” Emigholz told host Bob Considine. “But by no means does it mean that we support this."
Emigholz outlined two primary concerns: first, he called for an audit of NJ TRANSIT to identify potential efficiencies and ensure the funds are not wasted. “No. 1, NJ TRANSIT needs to get a better handle on what their true spending needs are," he said.
Secondly, Emigholz criticized the labeling of the tax as a Corporate Transit Fee while asserting that none of this year's collected revenue would go directly to NJ TRANSIT. "They have the gall to call it a Corporate Transit Fee yet not a single dollar this year is going to go to NJ TRANSIT," he stated. "It’s going to pad the surplus this year."
He further noted that although there is hope for future allocations, there is skepticism based on past experiences in New Jersey. “We know that unless you constitutionally dedicate a revenue stream for something important like NJ TRANSIT, the chances of it going to NJ TRANSIT and only NJ TRANSIT are limited," Emigholz said.
NJBIA’s “Minding Your Business” airs weekly on News 12+ at 9:30 a.m. every Saturday and Sunday, as well as 7:30 p.m. on Saturday. The show has received seven Telly Awards over three years, including a gold Telly in 2024 for Interview & Talk Show category.
