Regarding the disagreement over lifting the 2% municipal tax cap, the dispute hasn't really been given the comprehensive analysis it deserves. Yes, the 2% cap should be eliminated to give municipalities more flexibility to fund their schools. However...
Lifting the cap & putting greater onus of education funding on local residents is an unsustainable band-aid. NJ should also be identifying new sources of revenue at the state-level & using those sources to provide greater municipal aid. It's not "either, or." It's "yes, and."
Like most issues in Trenton, both sides have gone to their corners & the debate is framed as only having two, polar opposite, solutions. There must be more effort to implement balanced approaches as we solve our problems. Lift the cap *everywhere* AND pass the #millionairestax.
Lifting the cap will let municipalities have more flexibility to deal w/ various issues - esp important as we anticipate an economic downturn in 2020 - and implementing a fairer tax code by passing the #millionairestax will position the state to help local govts even further.
Anyways, that's it for my random 11pm ramblings. For more info on how NJ can best prepare for the next recession, check out our recent report! Biggest takeaway is we need more resources to invest in our anemic rainy day fund & afford our obligations. https://www.njpp.org/budget/in-brief-preparing-new-jersey-for-the-next-economic-downturn
You can follow @Brandon_McKoy.
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