Wednesday, June 17, 2009

The $395,455 Train Ride

We are exporting our jobs and money away from our state. We are watching tax funds ebbing away to boost our neighbors economy. I believe our politicians are looking in the wrong direction in building a second rail tunnel to New York, with another proposal to expand a rail tunnel which would transport New Jersey residents and drop them off in Philadelphia.

These tunnels are going to be subsidized by New Jersey. The spending of our tax dollars to move people out of the state makes no sense at all. Take the $3 billion dollars and use it to benefit the people of New Jersey, not New York and Philadelphia.

A selling point to justify this project is that 22,000 cars will be eliminated from the roadways. Dividing 22,000 into the expected $8.7 billion project, it would cost $395,455.00 for each vehicle removed from the roads, so drivers can take the train to work in New York City and spend their money there. This makes no economic sense.

Should we be spending money just to make it easier for people to get to New York City and make their economy stronger? Should we help Philadelphia prosper? They should be building rail systems so their citizens would have an easier commute to New Jersey.

Use the $3 billion dollars to make New Jersey a place where businesses want to relocate to, instead of using money on a tunnel that will siphon much needed New Jersey cash.

We have industrial parks in our state begging for business.

Let’s start by eliminating the proposed 4% business tax, tell business we want them back. Ask them to build in Industrial Parks in areas such as Camden, Trenton, Newark, Edison and South Plainfield instead of building a new facility. They would receive 5 years tax free, with a 20 year option. After 5 years, taxes would go to 25%, 15 years 75% and open to renegotiation after 20. Any green energy products used such as solar power, recycling of water usage, etc. they would be subsidized. They won’t be penalized for any property improvements. Thirty per cent of their work force must come out of those districts. Any employee over 500, business would receive a tax credit or incentive. Advertise to the business community our gates are open and we want them back.

Although it may not be a perfect plan, we need to start thinking outside the box on how we are going to put our citizens back to work, and grow New Jersey’s economy.

Use the $3 billion in stimulus money to fund business, hire our unemployed, keep existing business from leaving, keep money in the State of New Jersey to stimulate our economy, rebuild our infrastructure and transportation system in our state, would generate much needed income, and would be a boon for real estate. New Jersey should be in the envious position of New York and Philadelphia business wanting to relocate here, and their people commute and spend money in New Jersey.

Using New Jersey cash to create a better economy for our neighbors is not advantageous to improving our sorry state of affairs.

Used wisely, stimulus funds would benefit our economy for years to come.

Joe Sinagra
18th District Assembly Candidate

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