NJBMDA Joins NRLA, ABMA in Washington, D.C. for Advocacy Day 2024
Dear NJBMDA Members, We’re thrilled to share exclusive insights from the recent 2024 American Building Materials Alliance (ABMA) Advocacy Day held in Washington DC, hosted by the Northeastern Retail Lumber Association (NRLA). Our representatives from independently owned and operated family businesses across New Jersey joined forces with peers from 14 other state affiliates to engage […]
NJBMDA Legislative Update: February 2024
Murphy Proposes New Business Taxes in His 2025 Budget In Gov. Phil Murphy’s 2025 Budget Address, he outlined a plan to raise business taxes on the state’s largest companies in order to fund NJ Transit. It’s not the only tax increase in the $55.9 billion budget Murphy outlined Tuesday, but it is by far the […]
New Jersey Legislative Update June 2023
Fiscal Year 2024 Budget Passed by the Legislature and Sent to the Governor The State Senate and the General Assembly have both passed the State’s $54.3 billion Fiscal Year 2024 Budget a few hours ahead of the Constitutional deadline of midnight on July 1, 2023. Assembly members Jimenez and DeFuccio and Senators Cunningham, Gill, and […]
NJBMDA 2023 Legislative Priorities
Home Electrification Mandates and bans will increase energy costs and impact energy reliability. All-Electric Buildings are more expensive to build. No Plan for Implementation The Unemployment Insurance Trust Fund UI tax rates are significantly higher than pre-pandemic levels. These tax shifts resulted in UI tax increases ranging from $177 to $250 per employee. Small businesses […]
New Jersey Legislative Update May 2023
NJ Budget Process Continues Initially in February, Governor Murphy’s predicted state revenue for fiscal year 2024 was just over $54 billion. This would have allowed the State to carry over roughly $10 billion for future projects or pension payments. However, as the budget process has continued a series of events has impacted the budget process […]
NJBMDA Legislative Update
April 2023
2023 Election Will Result in Big Changes In the 2023 General Election, all 120 legislative seats will be in contention and on the ballot. With only Senate seats atop the ticket, there’s likely to be a low turnout. The last time the Senate led the ballot in 2011, just 27% of all those registered to […]
New Jersey Legislative Update
March 2023
State News: Non-Partisan OLS Predicts $1 Billion Less in Revenues for NJ’s BudgetThe Office of Legislative Services (OLS), the non-partisan lawyers and economist of NJ Government, projects that combined state revenues for fiscal years 2023 and 2024 will fall $1.055 billion below the estimates in Gov. Phil Murphy’s latest budget proposal. OLS presented its findings […]
New Jersey Legislative Update
February 2023
GoGovernor Murphy Announces NJ 2024 Budget This month, Governor Murphy in his budget address focused on “Building the Next New Jersey” in his NJ FY 2024 budget. The Fiscal Year 2024 Budget proposed $53.1 billion in spending but this includes a $10.1 billion surplus and the state budget that lifts NJ spending to a new […]
New Jersey Legislative Update
January 2023
The Governor’s State of the State Address : The speech was Governor Murphy’s first in-person State of the State since the pandemic prompted him to give both the 2021 and 2022 addresses virtually. It was his fifth State of the State address overall since the start of his Administration. The 2023 speech was light on […]
New Jersey Legislative Update
May 2022
NJ Considering Legislation to Help Address Unemployment Insurance Fund As New Jersey addresses a budget this year with a nearly $10 billion surplus, businesses are grappling with nearly $1 billion in tax increases over the next three years after a surge in unemployment claims during the pandemic depleted the state’s Unemployment Insurance Trust Fund. When […]