Peter Chen Analyzes New Jersey’s FY 2024 Budget

Peter Chen (’14), Senior Policy Analyst at New Jersey Policy Perspective, coauthored a report for New Jersey Policy Perspective analyzing how prioritizing tax cuts in New Jersey’s Fiscal Year 2024 budget jeopardizes the sustainability of essential public services as well as the state’s future ability to pass a balanced budget (“Red Flags Amid a Sea of Green: Breaking Down New Jersey’s FY 2024 Budget,” Aug. 8). “[T]he latest state budget wasted a historic opportunity to fix New Jersey’s finances and boost investments in historically underfunded areas. Instead, lawmakers used record-setting revenue collections to fund costly tax cuts and credits for wealthy households and profitable corporations, threatening the state’s long-term fiscal health. . . . A strong tax code where those with the most pay what they owe is the only way to guarantee the promise of the budget’s investments for years to come.”