These are just some of the ways corporations came out on top during a legislative cram session this month, but whether the bills will become law without further changes remains in doubt.
Gov. Christie, a Republican, said in his State of the State speech last week that he would support economic incentives only in the context of a balanced budget, and his office said that he was concerned the Legislature had not found a source of funding for the measures. Still, the governor said he would call for a rollback of personal and corporate tax rates when he proposes the budget in February.
How to boost the economy has been up for debate in the Statehouse lately, as New Jersey joins states around the country in trying to advocate for business in the face of massive budget shortfalls that are expected to result in less aid for schools, health care, and social programs.
Florida Gov. Rick Scott promised this month to phase out the state's corporate income tax, while leaders in Iowa are looking at cutting corporate income and commercial property taxes. In New York, Gov. Andrew Cuomo vowed in his first State of the State address that he would use corporate tax breaks to make the state more business-friendly.
Meanwhile, a commission appointed by Missouri Gov. Jay Nixon recently recommended that the state cut tax-credit programs to save $220 million a year. New Mexico Gov. Susana Martinez has called for cuts to the film-production tax-credit program to save money.
And lawmakers in Illinois last week approved corporate income-tax hikes of 45 percent and personal income-tax increases of 66 percent to offset a $15 billion budget shortfall.
