NJPP Testimony: State Budget Can Do Much More To Make New Jersey Affordable For All

At its first public hearing on the state budget for fiscal 2023, the New Jersey Policy Perspectives (NJPP) called on lawmakers to develop policies that would make the state accessible to all, not just the wealthy or well-connected. I asked for priority. In testimony given virtually this morning, the think tank called for a budget that includes direct payments and cash assistance to hard-working families to reduce poverty and food insecurity, improve household finances and stimulate the broader economy. did.

NJPP Senior Policy Analyst Peter Chen:

“We’ve heard the drumbeat of making New Jersey ‘affordable,’ but as we pointed out, the question we have to ask is ‘affordable for whom? “is. New Jersey’s economy works best when it works for all of us.

“Comprehensive recovery prioritizes making the state affordable for those hardest hit by the pandemic, especially Black and Hispanic/Latino workers, students, families, and communities. That’s why it’s so important to advance changes in the Fiscal Year 2023 budget that make tax laws fairer and make the state more affordable for low- and middle-income households.

“NJPP has proposed a package of programs to put money back into the pockets of these families and individuals.

  • State Level Child Tax Credit.
  • Increased income tax credit amounts and eligibility.
  • Replenishment of Excluded New Jersey Funds.
  • Reform to WorkFirst New Jersey to improve qualifications and benefits.

“This is not too much to think about. There is plenty of evidence from the pandemic that direct payments and cash assistance can help reduce poverty and food insecurity, improve household finances and stimulate the economy. Making them affordable means giving them the resources they need to find financial security for themselves and their families.”

Read the full testimony here.

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The New Jersey Policy Perspective (NJPP) is a nonpartisan think tank that advances policy change to advance economic, social and racial justice through independent, evidence-based research, analysis, and advocacy.

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