According to their website:
Opportunity NJ Inc is a 501(c)(4) social welfare organization formed exclusively to promote the common good and general welfare of the people of the State of New Jersey through strengthening the civic engagement of New Jersey’s residents and businesses toward a strong and sustaining state economy.
Which translates into a business lobbying group that, as a 501(c)(4), means they are supposed to educate the public (as opposed to advocating for any politician or party) which is what makes donations they get tax-exempt. For now, their three main issues are:
- Mandatory Paid Sick Leave
- Proposed Minimum Wage Increase
- Constitutional Amendment Requiring Pension Payments
They introduced themselves last Friday and, though they may be right about their first two priorities*, they need to reconsider number 3:
What they need to consider:
- The constitutional amendment requires payments be made but the state (through legislation and the obeisance of the actuarial profession) still gets to define the amount of those payments which for the coming fiscal year will be 40% of what they should be (according to the actuaries though about 20% of what they should be in real life). What would stop the legislature from passing a law defining these payments as 10% of what they should be? Or 0%?
- To make the payments the only options the opportunitynj people (and the rest of the political class) see are “massive tax increases for all New Jersey residents or a cut in important programs.” There is a better third option.
- That future aspect. Not funding pensions means that they will either be defaulted on or future taxpayers will have to pay for them. If the goal is to entice people here then the obvious solution is to put $166 billion into the pension system now and assure anyone contemplating moving here that they won’t have to pay for services they did not benefit from.