Promising to “declare economic war on our neighbors” and warning that neighboring states are ” eating our lunch,” GOP gubernatorial nominee Jack Ciattarelli rolled out a large-scale economic plan on Thursday that includes substantial tax cuts.
Among his proposals are cutting New Jersey’s corporate tax rate by 50% (which is currently the nation’s highest), eliminating capital gains taxes for small storefronts, and eliminating capital gains for the sale of primary and second homes. He also wants to adopt Delaware’s corporate bylaws scheme, a major reason why the Garden State’s southeron neighbor remains a major hub for U.S. corporations.
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Ciattarelli’s bullet points are viewable here.
“Rather than chasing businesses and revenue out of NJ, let’s give them a reason to stay,’ said Ciattarelli on Twitter after his press availability flanked by the New York City skyline.
The Republican nominee’s related infrastructure plans include placin the N.J. Department of Transportation and the notoriously troubled Motor Vehicle Commission (MVC) “under one roof.”
Rather than chasing businesses and revenue out of NJ, let’s give them a reason to stay.
— Jack Ciattarelli (@Jack4NJ) September 16, 2021
I encourage you to learn more about my specific plan here: https://t.co/PcQMvfFv5a
— Jack Ciattarelli (@Jack4NJ) September 16, 2021
