GUEST COLUMN: Suspend COAH, sales tax to help state’s economy

By Peter Biondi and Denise Coyle
   According to the New Jersey Department of Labor, the state lost 3,900 jobs in September, and has lost more than 20,000 jobs so far this year. New Jersey was just identified as having the highest taxes of any state in the nation.
   The economic crisis now facing New Jersey was not created overnight and is not the result of one factor. We cannot ignore the role our state’s own policies have played in creating this situation.
   High taxes and regulatory red tape do not inspire business owners to expand their operations, move to our state or hire new employees.
   To solve these problems, New Jersey needs a multi-pronged approach that will address short-term economic factors, but that also implements a long-term reform agenda.
   In the long-term, Republicans in the Legislature have developed an economic growth agenda that seeks to make New Jersey more competitive with its neighboring states.
   This agenda, the “Common Sense Plan for a More Affordable New Jersey,” calls for expanding economic incentives to attract new, high paying jobs, establishing a preference program that guarantees a percentage of government contract work will be set aside just for New Jersey businesses, consolidating all job creation programs under the Economic Development Authority, and enacting regulatory reforms that reduce the time it takes to get approval for economic development projects.
   We have also proposed $1.32 billion in spending cuts that will help the state to lower taxes and make New Jersey a more profitable and affordable location for business owners and the people they employ.
   In the short-term there are a number of immediate steps we can take to jump-start our economy.
   The first is a proposal to cut the state’s sales tax in half for the holiday shopping season between Thanksgiving and Jan. 4th. This five week period is the “make or break” time of year for many businesses.
   Another proposal would be to suspend the recently enacted Paid Family Leave Act. This is legislation that would force employers to provide paid leave to employees for up to six weeks. We have drafted legislation that would suspend the Paid Family Leave Act until January 2009.
   At a time when our economy is struggling, we should not be placing any more burdens on our small businesses.
   Finally, the state should immediately stop the implementation of the latest round of affordable housing rules. These new rules impose a tax on any new commercial development in the state – a move that will provide even more incentive for business owners to stay way from New Jersey.
   If we want to turn around our economy, we must take decisive action now. This includes both long-term and short-term solutions. Republicans have put those ideas on the table and now we welcome our Democrat colleagues to get on board.
Assemblyman Peter Biondi and Assemblywoman Denise Coyle represent the 16th Legislative District in Somerset and Morris counties.