You know the saying: Opinions – everybody’s got one.

Here are six on Gov. Phil Murphy’s budget address from the leaders of key chambers of commerce and policy-based groups.

Tom Bracken, CEO, New Jersey Chamber of Commerce

“After warnings that the proposed 2026 state budget would contain significant cuts, at first glance, it closely mirrors those in each of our last seven years. It includes additional spending and increases in programs bolstering the “fairer” side of our economy, but once again, little assistance to the business community to enable them to generate the sustainable revenue needed to pay for everything.

“For years, the business community has warned that increasing state spending, plus a lack of recurring revenue, would lead us to fiscal imbalance. You cannot increase spending by more than 65% over eight years without a balanced emphasis on sustainable, organic revenue growth through expansion of our business community. That has not happened in the governor’s two terms and revenue is declining.

“Expenses up-revenue down does not work and never will. Even though the governor is reducing some overhead, there is an old saying: You cannot cut your way – or tax your way – to prosperity.

“We need pro-business legislation to create significant economic growth and the prosperity we deserve.”

Michele Siekerka, CEO, N.J. Business & Industry Association

“Not surprisingly, Gov. Murphy’s eighth and final budget proposal represents another unsustainable spending increase with another structural deficit built in.

“While today’s address was light on specifics, we know it marks slight improvements from last year’s record-setting business tax increase and larger structural deficit and maintains a surplus for the next governor. But it also still increases other taxes to continue to support an unsustainable spending rate in New Jersey.

“We do welcome, as in past years, a fifth consecutive full pension payment by the Murphy administration as part of the FY26 budget. But in his two terms, there have been no

substantive conversations about much-needed pension and other benefit reforms for future state employees. Such reforms would reduce large draws from future budgets without hurting our state economy.”

Christina Renna, CEO, Chamber of Commerce Southern New Jersey

“The Chamber of Commerce Southern New Jersey recognizes the importance of a responsible state budget that supports economic growth and fiscal stability. While we appreciate Gov. Murphy’s commitment to investing in infrastructure, education, and economic development, we are deeply concerned about the proposed $58.05 billion spending plan’s reliance on increased taxes and fees that will hinder business growth and economic recovery. In particular, the addition of approximately $1 billion in new tax increases poses a grave threat to New Jersey’s competitiveness and affordability. Additionally, we remain troubled by the continued expansion of state spending, which places an increasing burden on taxpayers and businesses without clear plans for long-term financial sustainability.

“The increased tax on sports betting from 13 percent to 25 percent is particularly alarming for South Jersey, which has become a hub for the gaming and tourism industry. Atlantic City has particularly benefited from this new industry and any additional taxation risks reduction of consumer participation, impacting local businesses, and threatening jobs in an industry that is still recovering from the challenges of recent years. This move could drive bettors to neighboring states with more competitive tax structures, ultimately hurting the very revenue streams the tax is intended to bolster.

“Additionally, we are concerned with the proposed $2 truck traffic excise fee, which would create unnecessary costs for businesses and consumers, particularly in South Jersey, where the logistics and distribution sector serves as a critical economic driver. At a time when businesses are already grappling with rising operational costs, supply chain challenges, and workforce shortages, this additional fee risks making New Jersey less competitive and could discourage businesses from establishing or maintaining operations in the state.

“The CCSNJ urges the governor and Legislature to consider alternative solutions that foster economic growth rather than hinder it. We stand ready to collaborate on policies that enhance New Jersey’s economic competitiveness while ensuring fiscal responsibility. We look forward to engaging with policymakers to advocate for a budget that supports businesses, encourages investment and benefits the entire state economy.”

Anthony Russo, president, Commerce & Industry Association of New Jersey

“While we appreciate the governor’s tax credit for businesses manufacturing products in New Jersey, more needs to be done to reduce those taxes and costs for all businesses that provide private sector jobs. New Jersey businesses provide a good quality of life for our residents through creating private sector jobs.

“CIANJ further supports childcare credits, pension payments and investments in workforce development. More investment in transportation infrastructures and vocational programs helps our businesses grow and increase the number of private sector jobs which will lead to more revenue for New Jersey.

“Although the governor’s clean energy goals are well-intended, CIANJ remains concerned with the cost and burdens that they will place on our residents and businesses across New Jersey. We look forward to working governor and Legislature to enact a budget that works for all New Jerseyans.”

Audrey Lane, president, Garden State Initiative

“New Jersey’s budget crisis was predictable and preventable. GSI and others have warned about our fast-approaching fiscal cliff and have recommended pragmatic policies to offset the state’s current financial trajectory. Trenton continues to ignore these recommendations.

“We have spent down the federal covid surplus, we have a stubbornly high unemployment rate, and we are facing austerity measures at the federal level. Amidst this reality, New Jersey has a $3.8 billion structural deficit. It’s long past due to put New Jersey on a more sustainable economic path so that the next generation can afford New Jersey for their families and businesses.”

Nicole Rodriguez, president, N.J. Policy Perspective

“New Jersey’s state budget desperately needs new revenue to make health care, housing, and transit more affordable for working- and middle-class families while addressing the widening structural budget deficit. With federal funding cuts looming on the horizon, the governor’s budget proposal takes an important step towards fiscal responsibility by increasing revenues through targeted measures like the expanded realty transfer fee while maintaining full funding for key commitments for public schools and pensions.

“However, even with these efforts, the budget still leaves the state vulnerable — failing to close the structural deficit or build a surplus ample enough to withstand federal cuts to critical programs like Medicaid. While families are struggling with basic costs, the proposed budget does not expand the Child Tax Credit or income assistance for working-class households, and it cuts back on grant funding for nonprofits and community programs. Yet, the budget finds room to fund StayNJ, an expensive homeowner subsidy program that would help wealthy households, even though it fails to meet the required fiscal responsibility guardrails set out in the original law.

“Rather than diverting funds from affordable housing and other essential services to fill budget holes, New Jersey needs more progressive, sustainable revenue solutions to build an equitable state for all residents — not one that forces cutbacks for the programs they rely on.”