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Christie challenger Buono backs small-business incentives in N.J.

The Democratic candidate for governor of New Jersey has unveiled an economic plan that includes directing state tax credits away from large corporations and toward small businesses.

 

Saying that “95 percent of our businesses in New Jersey are comprised of businesses of under 50 employees,” state Sen. Barbara Buono said she advocates realigning state policy to encourage growth in that segment.

“Small businesses are the heart and soul of our economy and that’s where we get most of our jobs from, and that’s going to really drive our economy,” she said.

Buono also proposes creating a state infrastructure bank to attract private capital for needed projects.

She wants to recruit more science and math teachers and make tuition at public colleges more affordable for students.

“They may do really well in college, but they graduate with three Ds: a degree, debt, and disappointment,” Buono said. “Disappointment because the jobs just aren’t there to pay off the debt when they graduate.”

Her plan would also increase tax relief for child-care expenses and restore the earned income tax credit.

A spokesman for Gov. Chris Christie’s re-election campaign says Buono’s proposals would increase taxes and stifle economic growth.

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