79% of CPAs say Murphy’s budget is bad for New Jersey’s economy

TRENTON, N.J. – New Jersey’s certified public accountants are not fans of Phil Murphy’s latest budget pitch.

This week, New Jersey Society of Certified Public Accountants released the results of a survey of CPAs showing 73% believing the Governor’s revised 2021 fiscal year pitch (delivered on August 25th) will make the state economy “marginally worse” or “significantly worse.”

60% are either “somewhat opposed” or “strongly opposed” to the $4 billion borrowing component of the Governor’s spending blitz.

The revised Murphy Administration’s FY 2021 budget also includes new spending (a 15% jump over three years) powered by new taxes ($1.4 billion’s worth) in addition to the $4 billion borrowing plan.