Issue Position: Bringing New Businesses and Jobs to the District

Issue Position

From our property and local taxes, to our state and federal taxes, homeowners here pay some of the highest taxes in the nation. It's part of the reason we've seen people and companies, small and large, packing up and leaving town, and taking good-paying jobs and their investment with them. In the last few years alone, we've lost part or all of Sony, Mercedes, and Hertz -- as well as so many small and medium size businesses that have had to close up shop, too.

But here's the good news: New Jersey is in the economic heartland of America; the heart of our nation's financial infrastructure is only a few miles away and some of the top life science companies in the world, beginning with Johnson & Johnson, call our state home. We also have some of the fastest broadband in America right here in our district, which is why the whole back-end of the New York Stock Exchange sits in Bergen County. When it comes to human capital, we have some of the top colleges and brightest minds right here. The question is: How can we maximize these assets and get our economy humming again?

In Congress, I will work across the aisle to pass comprehensive tax reform, like President Ronald Reagan and Speaker Tip O'Neil did in 1986, so we can lower tax rates, close loopholes, and cut out out-of-date regulations. We need to eliminate incentives for moving headquarters, jobs and production overseas, shrink our deficits, and reduce our debt. We also need to fix the tax code to bring back the $2.1 trillion sitting overseas and set aside the revenue for an Infrastructure Bank to rebuild our transportation and infrastructure. We should also invest in R&D, so we can continue to pump out first-rate innovation.

We have some of the most talented people in the world here and proximity to the economic engines of our country, top-notch schools, and beautiful communities. We need to harness this potential.

Source