Long before the pandemic, too many New Jersey families struggled to make ends meet or worried about an unexpected expense. Phil Murphy believes that the economy thrives when every New Jerseyan, in every community, benefits from its growth. A stronger economy means good jobs at better wages, and a fairer economy respects organized labor’s seat at the bargaining table, making sure all workers are guaranteed strong protections in the workplace.
Phil has spent his first term focused on building a more diverse and dynamic economy that helps every New Jerseyan get ahead. He has laid the foundation for a brighter economic future through forward-looking actions, including:
Prior to taking office, Phil called for sweeping and fundamental reforms to New Jersey’s corporate tax incentive system that previously only benefited a well-connected few — while draining billions of taxpayer dollars and failing to create promised jobs. Despite these lavish and wasteful incentives, New Jersey lagged behind in every economic measure. Phil enacted an economic recovery package in 2021 that creates a new incentive system that will accelerate sustainable economic growth, support job-creating small businesses, and uplift middle-class families.