However, the $10,000 cap on SALT deductions has negatively impacted the people who have the capital for business formation. The state’s economy is being helped by a strong national economy, which has been helped by tax reform. ![]() We are driving people out of the state because of the unaffordability issue. Therefore, affordability is what we have to attack to increase the opportunities for job creation. If they find a job in the state, they can’t afford to live here, so they live with their parents. New Jersey also has the highest percentage of 20-year-olds living with their parents in the country. That is distressing when you combine that with the accelerated rate of outmigration of the wealthiest people in the state because of the cap on state and local tax (SALT) deductions. I am very worried about the jobs outlook in New Jersey because we have the fastest rate of outmigration of 18- to 34-year-olds in the country. We need to create the right government tax policies that create an environment for job creation we need a revamped education system to ensure that we are producing the kind of skilled students and employees who have the background to handle the jobs of the future. have failed us in creating job opportunities. So, creating jobs has to be a high priority. ![]() Q: What are your key tenets regarding job creation and growing the economy, especially in New Jersey?Ī: There is very little that is more important than giving people job security. ![]() Menendez By Anthony Birritteri, Editor-in-Chief On Oct 1, 2018 Government Robert Hugin Q&A The Senatorial Battle: Hugin vs.
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