Close to midnight on June 28, Chamber of Commerce Southern New Jersey (CCSNJ) Director of Government Affairs Hilary Chebra testified before the Assembly Budget Committee and submitted written testimony to the Senate Budget & Appropriations Committee on the FY2027 State Budget. The two committees met simultaneously to hear testimony on the budget and related legislation, requiring CCSNJ to submit testimony to both - testifying live before the Assembly committee and in writing for the Senate.

In her testimony, Ms. Chebra recognized several positive investments included in the budget while expressing significant concerns about the cumulative impact of the budget and related legislation on New Jersey's business climate.



Ms. Chebra applauded continued investments in small business development, the New Jersey Innovation Authority, shared services, NJ TRANSIT, and the state's full pension payment. However, she emphasized that these positive investments are being overshadowed by a series of proposals that collectively increase the cost and complexity of doing business in New Jersey.

Among the Chamber's primary concerns are the temporary cap on Net Operating Loss (NOL) deductions, modifications to the Alternative Business Calculation (ABC) adjustment for pass-through businesses, and S4533, which would establish an Employer Healthcare Assistance Contribution on employers whose employees or their dependents receive NJ FamilyCare coverage. CCSNJ continues to oppose the employer assessment, noting that Medicaid eligibility is based on household income and family circumstances, not employer decisions, and warning that the proposal would also impose significant new financial burdens on nonprofit organizations. To read the CCSNJ's testimony on the Employer Healthcare Assistance Contribution, click here.

Ms. Chebra also provided testimony in opposition to S2338, the "Polluters Pay to Make New Jersey More Affordable Act," which was heard by the Senate Budget and Appropriations Committee that same evening. She expressed concerns that the bill's unprecedented retroactive liability framework would create legal uncertainty, discourage future investment, and ultimately increase costs for businesses and consumers throughout the state.

Throughout her testimony, Ms. Chebra stressed that employers evaluate New Jersey's overall business climate, not individual policies in isolation, when making decisions about where to invest, expand, and create jobs. She urged lawmakers to consider the cumulative impact of higher taxes, new employer assessments, expanded regulatory requirements, and increased legal uncertainty on the state's long-term economic competitiveness.

The FY2027 State Budget was approved by both budget committees on party-line votes and is scheduled to receive final consideration by the full Senate and General Assembly on Tuesday, June 30.

To read the CCSNJ's FY2027 State Budget written testimony, click here. 

To view the Assembly Budget Committee testimony, click here. CCSNJ's testimony begins at 3:17:00

Please reach out to Hilary Chebra, Director, Government Affairs at hchebra@chambersnj.com if you have any questions.