Ted Zangari, Chair of the Redevelopment Law and Public Policy practice groups at Sills Cummis & Gross, participated today in a roundtable discussion on tax policy with Gov. Christie’s Council on Economic Advisors.
In his remarks, Zangari observed that corporate real estate site selectors have taken notice of the pro-business actions taking place in Trenton. However, Zangari also noted that real estate location decisions are based on time horizons that are typically much longer than a four or eight-year election cycle — as a result, there is a natural concern among corporate decision-makers that Trenton may reverse course on its austere fiscal policies in the longer term. Accordingly, Zangari suggested that the Christie Administration and Legislature consider safety valves – automatic budget caps, cuts and sunsets – that would be triggered to avert non-essential spending or higher taxes in the decades ahead.
In addition to Zangari, the non-government participants at the roundtable discussion were:
- Joe Allegra, Managing Partner, Edison Venture Capital
- Dr. Josh Barro, Senior Fellow, Manhattan Institute for Policy Research
- Deborah Bierbaum, Executive Director, Tax Policy, AT&T
- Thomas Bracken, President and CEO, New Jersey Chamber of Commerce
- Thomas Byrne, President, Byrne Asset Management, and former Chairman, New Jersey Tax & Fiscal Policy Study Commission
- James Evans, Past President, New Jersey Society of CPAs
- Philip Kirschner, President, New Jersey Business & Industry Association
- John Pydyszewski, Senior Director – State Tax Policy, Johnson & Johnson, and Chairman, Council of State Taxation