TRENTON, N.J. – New Jersey’s accountants hate Governor Phil Murphy’s plan for a state bank.
According to a brand new survey conducted by New Jersey Society of CPAs (NJCPA) in November, 85% of its responding members oppose the idea. Only 10% support it.
“Surveys like these are a good indicator of what CPAs and their clients — who are often small business owners — believe will impact the economic landscape of the state,” said Ralph Albert Thomas, CPA (DC), CGMA, CEO and executive director at the NJCPA. “While better borrowing opportunities are always in demand, the survey shows some concerns exist for safeguarding the funds.”
Garden State CPAs are likely to get their wish.
Senate President Steve Sweeney said he isn’t planning to move on the Governor’s proposal.