CIG Insider 2024: Budget Deal Sealed, Primary Surprises, and Team Milestones
- Capital Impact Group
- Jun 28, 2024
- 4 min read
Updated: Jul 1
State House Happenings
Budget In Brief
The Fiscal Year 2025 state budget passed the legislature on Friday, with a party line vote in both the Senate and Assembly. The budget is a record total $56.6 billion, with more than $600 million of last-minute line items added as the budget negotiations came to a close during the previous week. Governor Murphy is expected to quickly sign the budget into law, with little to no adjustments being made in the form of line-item veto.
To support the budget, more than $1 billion is being raised through the introduction of new taxes. A tax on the state's most profitable corporations is included, as is a 1% increase of the existing fee on HMO premiums. A sales tax exemption for the purchase of electric vehicles will be phased out, as will a back-to-school sales tax holiday.
Property tax relief, always a critical issue that bridges the partisan divide in the State House, will continue to be funded through the Anchor tax relief program for both homeowners and renters. The Senior Freeze relief program will be expanded, and over $200 million is being set aside for the new StayNJ initiative that will begin in 2026.
Through a separate piece of legislation, nearly $400 million in spending on capital projects was approved by the legislature alongside the budget. This funding will be allocated via the Debt Defeasance and Prevention Fund and includes resources for improving Liberty State Park, and modernizing NJ Memorial Veterans Home locations in Paramus and Menlo Park.
Finally, although the new tax on corporations is intended to eventually help prop up NJ Transit, a new 15% transit fare hike will go into effect for commuters across the state on July 1. This increase will begin just shortly after Governor Murphy convened the leaders of Amtrak and NJ Transit in response to the wide-ranging system outages due in part to the early-season heat wave.
Election Update
New Jersey’s primary season concluded earlier this month. Notably, Congressman Andy Kim emerged victorious in the Democratic primary for the U.S. Senate, a seat currently held by embattled Senator Bob Menendez. Kim’s grassroots campaign overcame significant challenges, including a lawsuit that led to a historic change in New Jersey's primary ballot format. He will face Republican Curtis Bashaw, a real estate developer, who decisively won his party's nomination over his Trump-endorsed opponent.
All incumbent House members easily secured their party nominations. However, there was a hotly contested race to fill Congressman Kim’s open seat in CD-3 that pitted two popular Democratic state lawmakers against each other. Assemblyman Herb Conaway (D-Burlington) emerged victorious in that intra-party battle and is a heavy favorite to succeed Rep. Andy Kim in November.
Movers & Shakers
Governor Murphy made a slew of staff moves this month. He named Senior Director for Government Affairs Assad Akhter and Director of the Office of Intergovernmental Affairs Rob Field deputy chiefs of staff. Senior Legislative Aide Krishna Martes was appointed Director of the Office of Labor Relations and Stakeholder Engagement. Senior Legislative Aide Rob Matos-Moran will now serve as Director of the Office of Legislative Affairs. Widely-respected Senior Legislative Aide Athina Fassu-Nehemi was promoted. Lance Taylor, former Senior Appointments Aide, joined the Legislative Affairs Department, and rising star Devin Mulroy was promoted to Senior Legislative Aide in the Legislative Affairs Department.
Sarah Seaboldt will be pulling double-duty in LD 16. Already chief of staff to Assemblyman Roy Freiman (D-Hillsborough), Sarah was recently named chief of staff to Assemblywoman Mitchelle Drulis, who shares the 16th district with Freiman.
Jessica Cohen is now chief of staff to Senate President Nick Scutari. The trusted veteran began serving as a senior advisor to Scutari when he was first elected leader of the upper house in 2020.
Earlier this month Matthew Craig was named Director of Legislative Affairs at the New Jersey Cannabis Regulatory Commission.
Cheryl Krouse was recently promoted to Chief of Staff for Representative Josh Gottheimer, where before she held the position of Deputy Chief of Staff for the last four years.
Mariluz Garcia-Diaz is now the Deputy Director of Communications for the Senate Democrats. She had previously served as a spokesperson for the New Jersey Division of Highway Traffic Safety.
Christopher Hall was recently named Deputy Chief of Staff to Congressman Tom Kean Jr. He’ll continue to serve as the Congressman’s Legislative Director as well.
Grace Iheke is now Policy Adviser for Congresswoman Bonnie Watson Coleman. Before holding this position, Grace was a Legislative Assistant.
CIG Family
On June 14th, CIG Senior Vice President Sabeen Masih, her husband Andrew and son Kaladin welcomed baby daughter Zyra Sabeen Steffens. Zyra (zhai•ruh), meaning brightness and radiant, is gorgeous and already beaming!
Congratulations from the entire CIG family!
CIG In the News
Haughton Joins CIG Team
In May, Eash Haughton, a distinguished policy and political professional, joined the firm as Director of Public Affairs. A former legislative staffer and aide to the Governor, Eash most recently worked at a national public affairs firm, where he devised and implemented successful public issue campaigns for government agencies, nonprofits, labor unions and corporate entities. Welcome Eash!!
Entire CIG Team Named To InsiderNJ's Power 100 Lobbyist List!
Out & About
The CIG Insider is Capital Impact Group’s long-running bi-annual newsletter, offering updates on the latest political developments, legislative issues, and policy trends impacting businesses and organizations across New Jersey. Each edition provides valuable insights from our team, highlighting the people, priorities, and public affairs shaping the state’s landscape.
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