Statement from Anthony Russo, President, Commerce & Industry Association of New Jersey:
Today CIANJ opposed in both the Assembly & Senate Budget Committees a bill that establishes the way the Corporate Business Tax (CBT) is determined through combined reporting. This bill, which was passed by both committees, will impact our members and yet no details were provided or made public before the votes were taken. This lack of transparency in the legislative process is discouraging and is not how our government should work and operate. Good government only exists when there is transparency and public discourse on the issues impacting our residents and businesses. Combined reporting is a very complex issue and one in which the business community should have the opportunity to weigh prior to a vote.