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Sherrill's Budget: Pro-Business Wins & Tax Tweaks
Description
New Jersey Governor Mikie Sherrill unveils a $60.7 billion budget, focusing on pro-business initiatives and minor tax adjustments. The plan includes capping net operating loss deductions, altering business loss write-offs, and introducing employer fees, aiming to generate $750 million in additional revenue. Despite concerns from business groups about long-term planning and competitiveness, the budget is generally well-received after years of tax increases under the previous administration.
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