Tom Bracken
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Articles by Tom Bracken
Op-Ed: New Jersey’s economic future demands bold leadership – and a partnership for growth
New Jersey has all the ingredients to be one of the most competitive states in the nation. We have a highly educated workforce, world-class universities, a strategic location, a thriving innovation economy and access to some of the world’s largest markets. What we need now is a bold economic growth strategy that leverages those assets, challenges the status quo and restores New Jersey’s reputation as a premier destination for business investment and job creation.
Australia’s new merger control regime is now in force (with some last-minute changes) | JD Supra
From January 1, 2026, it is mandatory for businesses to notify acquisitions that meet certain thresholds and must wait for approval from the Australian Competition and Consumer Commission (ACCC) before they can proceed. In the lead up to implementation, the Australian government has introduced several changes to the regime, which refine the circumstances in which acquisitions need to be notified.
Op-Ed: Be informed — the stakes couldn’t be higher for our economic future
Residents are already voting, and in days we will know the results of the gubernatorial election. The stakes could not be higher for our state’s economic future. The New Jersey Chamber of Commerce urges our members — and all New Jerseyans — to take a close look at the economic records and plans of both candidates. And vote! This election presents an opportunity to reset our state’s priorities and chart a course toward long-term growth and fiscal stability.
Restoring Economic Certainty: New Jersey Needs Pro-Growth Policies, Not More Uncertainty | Op-Ed
The past months have been marked by unprecedented economic uncertainty – globally, nationally, and right here in New Jersey. Businesses thrive when they can plan for the future with confidence, yet today’s economic climate is inherently unpredictable. From inflationary pressures to tariff wars, executives across industries are grappling with challenges that make long-term investment and expansion difficult. In short, there’s an old truism: Uncertainty stifles prosperity. That’s why Gov.
A resounding success: The Walk to Washington and a call for a stronger economic future
More than 1,000 New Jersey business and government leaders joined the New Jersey Chamber of Commerce’s Walk to Washington & Congressional Reception last week, marking a triumphant return for the two-day event after a five-year hiatus. The bottom line: The Walk remains the state’s premier business networking event. And in this pivotal gubernatorial election year, it also served as a powerful rallying call.
Op-ed: National economic discussions should resonate with New Jersey’s leaders
As a new presidential administration takes the helm in Washington, the nation finds itself at a pivotal economic juncture. The priorities emerging in federal discussions – supporting innovation and artificial intelligence, lowering taxes for businesses, reducing burdensome regulations, bolstering energy independence and supporting small businesses – should resonate deeply with New Jersey’s leaders.
N.J. is open for business. Will 76ers make move?
You’ve likely heard the recent buzz: New Jersey made a bold play to lure the Philadelphia 76ers across the Delaware River, offering an attractive deal for a new arena in Camden. This move clearly caught the attention of Philadelphia Mayor Cherelle Parker, who quickly announced her own city’s agreement with the team for a proposed new arena in Center City near Chinatown.
There’s no need to rush through the Corporate Transit Fee proposal with many negative economic consequences
By Tom Bracken There has been a lot of discussion about the proposed 2.5% Corporate Transit Fee (CTF) on New Jersey’s largest employers and we, along with many of our trade association colleagues, are totally against it and would like to see it eliminated. Everyone agrees NJ Transit needs to get its fiscal house in order, however, the employer community stands firm the CTF will never be a viable solution.
State budget nightmare scenario might come true
The nightmare might be coming true. Back in March, when we first heard about the proposed budget, the Corporate Transit Fee and the “buck-a-truck” tax, I called it a “nightmare” budget proposal that’s “a major step backwards” for the state. Well, with less than one week before the Fiscal Year 2025 state budget has to be signed by Gov. Phil Murphy, some disappointing news is emerging.
There’s no need to rush through the Corporate Transit Fee proposal with many negative economic consequences
By Tom Bracken There has been a lot of discussion about the proposed 2.5% Corporate Transit Fee (CTF) on New Jersey’s largest employers and we, along with many of our trade association colleagues, are totally against it and would like to see it eliminated. Everyone agrees NJ Transit needs to get its fiscal house in order, however, the employer community stands firm the CTF will never be a viable solution.
No need to rush through Corporate Transit Fee proposal with many negative economic consequences
There has been a lot of discussion about the proposed 2.5% Corporate Transit Fee on New Jersey’s largest employers and we at the New Jersey Chamber of Commerce, along with many of our trade association colleagues, are totally against it and would like to see it eliminated. Everyone agrees New Jersey Transit needs to get its fiscal house in order; however, the employer community stands firm that the CTF will never be a viable solution.
Corporate Transit Fee ball is now in Legislature’s court
It has been over six weeks since Gov. Phil Murphy proposed a highly punitive business tax increase on the state’s largest companies in his fiscal 2025 state budget. Essentially, he is saying New Jersey should replace the temporary 2.5% Corporate Business Tax surcharge that expired at the end of 2023, and repackage it as a Corporate Transit Fee.
A-4011/S-2931 Is Responsible Legislation That Will Drive NJ’s Future
Sometime this summer, New Jersey’s Transportation Trust Fund (TTF) is scheduled to exceed its 2016 bonding authority—its ability to borrow money to finance the projects that keep our roads drivable and our bridges crossable. We find our state once again standing at a fiscal and legislative crossroads that has the potential to irrevocably harm our economy and our Transportation, Logistics, and Distribution (TDL) sector’s reputation.
Legislature and business community: Perfect together?
Gov. Phil Murphy’s State of the State address emphasized affordability and continuing to grow a fair, strong and inclusive economy to create the best state to raise a family. He mentioned several times the need to “work together” to achieve those goals. We congratulate the governor and the Legislature on the accomplishments of the last six years that have made economic progress. We applaud the many initiatives the governor outlined in his address to build on past achievements.
Extending CBT surcharge would have many serious ramifications
The talk of extending the state’s “temporary” 2.5% Corporation Business Tax surcharge — set to expire at the end of 2023 — has to end. Some are advocating it be prolonged for the purpose of funding New Jersey Transit, which is experiencing financial problems. Others are publicly stating Gov. Phil Murphy should break his long-term promise to end the surcharge to fund other programs.
Finding better way to do things, New Jersey Chamber unveils legislative priorities
As the Legislature returns this fall, our New Jersey Chamber of Commerce lobbying team will be back in the State House pushing for policies that will make New Jersey a better place to live and run a business. And we are encouraged by recent developments in Trenton. It is clear that our state leaders are serious about improving the business climate and creating good-paying jobs. The recipe is simple: Improve the business climate and the state economy will flourish. Over the summer, Gov.
Bracken: State’s big jump in CNBC ranking is worth celebrating — and impetus for more change | ROI-NJ
It is excellent news that CNBC, in its annual Top States for Doing Business list, ranked New Jersey as the most improved state, as it climbed 23 places to No. 19, after a 42nd-place finish last year. This is certainly a reason to celebrate, and the New Jersey Chamber of Commerce is pleased that the CNBC survey recognizes some important strengths in New Jersey’s economy. New Jersey ranked highly for fully funding its pension obligation and for the $8.3 billion surplus in the state budget.
Let business community lead way to long-term economic success
When companies in New Jersey thrive, so do the state’s finances. When the business community thrives, state tax revenues rise, social programs are funded and the generous philanthropic giving of the business community grows. These are the hallmarks of a state with a solid economy.
Australia’s ACCC proposes major shift to mandatory merger regime and outlines sustainability and digital priorities | JD Supra
For a number of years the Australian Competition and Consumer Commission (ACCC) has advocated for amendments to the country’s merger control rules. The current regime is voluntary, and the ACCC cannot itself prohibit a transaction – it must apply to the courts to do so. Since taking office last year, ACCC chair Gina Cass-Gottlieb has been vocal in her criticism of the regime.
Banking veteran Bracken: N.J. companies should feel confident about state’s financial institutions
Prior to becoming president of the New Jersey Chamber of Commerce, I spent over 40 years working in the banking industry. So, naturally, many of our members have reached out to me over the past couple of weeks asking if they should feel confident about their financial services institutions. Some people are worried, especially small business owners. I’ve been talking to banking executives from around the state.
Bracken: With banking crisis potentially deepening, let’s use our funds wisely
The banking crisis has rattled markets over the past couple weeks, and it could worsen. If lending tightens, many companies, especially smaller ones, could lose ready access to financing. It could cause severe distress to our economy — and our leaders need to prepare now. The uncertainty brought on by the banking crisis has changed our thinking here at the New Jersey Chamber of Commerce regarding how and when the state should use the $10 billion surplus projected in the upcoming state budget.
OPINION: Let’s be honest about the $740B US Inflation Reduction Act
Politicians in New Jersey and around the country are working overtime to sell the benefits of the $740 billion Inflation Reduction Act that President Joseph Biden recently signed. They are calling it a signature achievement for his administration.
Let’s be honest about the $740B US Inflation Reduction Act It’s good - and it’s bad - for New Jersey
It’s good – and it’s bad – for New Jersey Politicians in New Jersey and around the country are working overtime to sell the benefits of the $740 billion Inflation Reduction Act that President Joseph Biden recently signed. They are calling it a signature achievement for his administration.
Gathering for the holidays during COVID times
We are all being called on to do our best to lessen the spread of COVID-19 in our communities. Our hospitals, emergency rooms and especially intensive care units are full to capacity; if our number of cases per day increases we may not be able to take care of every ill patient properly. This is crucial now as we enter the “surge” period of this virus. It appears more and more likely that we will have a vaccine available to all by early 2021.
Op-Ed: We Need a Fiscally Responsible Budget
Michele Siekerka and Tom Bracken As the summer of COVID-19 comes to a hollow end for many beleaguered businesses, Gov. Phil Murphy is proposing a $40.1 billion budget that simply does not reflect the stark reality of our times. Instead of keeping costs down for our taxpayers already struggling in this economic downturn, Gov. Murphy is raising taxes and making New Jersey businesses less competitive.
OPINION: The wireless way forward
How 5G will help New Jersey on the road to recovery By: Tom Bracken August 3, 2020 12:01 am The first half of 2020 was unprecedented. Seemingly overnight, workers moved from office buildings to home offices. Teaching and learning were done from home rooms – literally. Medical appointments were done on smartphones, tablets and laptops. And restaurants were forced to offer curbside service instead of tableside service.
New tax on health insurance is bad idea when businesses are struggling to stay open
File photo Tom Bracken is CEO and president of the New Jersey Chamber of Commerce. This week, the New Jersey Legislature is considering legislation that would require certain entities authorized to issue health benefit plans to pay an annual assessment. Of course, “assessment” is just another way of saying “tax” — which is what this is, a tax on health insurance. Worse, if this bill becomes law, it will actually create a second tax on health insurance in New Jersey.
If businesses don’t have access to working capital, there will be no economic recovery
File photo Tom Bracken is CEO and president of the New Jersey Chamber of Commerce. On June 19, the New Jersey Senate Republican caucus sent a letter to Gov. Phil Murphy urging him to release more of the federal Coronavirus Aid, Relief, and Economic Security Act funding to help the state’s struggling business community — including nonprofits and educational institutions.
Different tests for COVID-19 explained
Like most aspects of our COVID-19 virus epidemic, there has been a lot of confusion regarding COVID-19 tests. There are three main tests for the COVID-19 virus infection. • The first test is the PCR test. PCR stands for Polymerase Chain Reaction that detects viral proteins. This test takes two to four days to be processed. This test is done from a specimen from a swab put into your nose to touch the high portion of your throat.
Buy NJ: Keeping B2B dollars in state will help everyone — especially our small business owners - ROI-NJ
File photo Tom Bracken is CEO and president of the New Jersey Chamber of Commerce. New Jersey is taking the first tentative steps toward restarting its economy and, hopefully, with each passing day, we will see more and more businesses opening their doors. Businesses — large and small — will face a dizzying array of challenges, many of which they have never had to deal with before.
Bracken: Let’s pause — and recognize how much N.J.’s political, business leaders have done - ROI-NJ
It is hard to believe the coronavirus outbreak that has virtually paralyzed businesses and crashed global financial markets only grabbed our attention a few weeks ago. Each day, the headlines sound more foreboding as state and federal officials across the U.S. try to get their arms around how fast the virus is spreading and how it will impact the economy.
Opportunity NJ: Increased Taxes and Spending Won’t Help New Jersey Grow
Increased Taxes and Spending Won’t Help New Jersey Grow By Tom Bracken and Michele Siekerka, Opportunity NJ Governor Murphy’s recent Budget Address painted an optimistic picture of New Jersey’s current financial health and future prospects, declaring victory on goals that included “restoring fiscal responsibility” and “delivering property tax relief” as if the work were already done.
‘Independent contractors bill’ doesn’t work — and independent contractors know it - ROI-NJ
File photo Tom Bracken is the CEO and president of the New Jersey Chamber of Commerce, located in Trenton. How do you know when a piece of legislation misses the point? When the people affected by the legislation turn out in droves to warn the state Legislature of the unintended consequences of the bill — in this case, that it would threaten their careers.
What happens when State House hearing turns into shouting match? Nothing good
File photo Tom Bracken is CEO and president of the New Jersey Chamber of Commerce, based in Trenton. On Monday, protesters in Trenton disrupted the state Senate committee hearing on New Jersey’s tax incentive programs. Everyone has the right to protest and to be heard. It is important that we respect those rights. But it is equally important that we ask this question — how is our state perceived by the out-of-state executives we are trying to convince to bring their businesses here?
N.J. Chamber urges Murphy to unify, not divide
In his inauguration address, Gov. Phil Murphy pledged to be the governor of “all 9 million who call our great state home.” On Sunday, the governor signed the fiscal 2020 state budget while repeatedly asking those in the audience, “Whose side are you on?” Clearly, by his comments Sunday, the governor has chosen a “side,” which represents only a portion of those 9 million people.
Time is running out to save N.J.’s tax incentive programs
Informing and connecting businesses in New Jersey Policymakers, including the Legislature and the Governor’s Office, all agree — tax incentives are an important and effective tool in New Jersey’s economic development toolkit. In fact, everyone agrees that the absence of an effective program leaves New Jersey ill-equipped to compete regionally to attract and retain businesses, because of the high cost of doing business in the state. Tax incentives are necessary to help level the playing field.
Five steps N.J.’s leaders must take to deal with EDA controversy
File photo Tom Bracken is CEO and president of the New Jersey Chamber of Commerce. The New Jersey Economic Development Authority and tax incentive programs have served New Jersey well, and they are vital to our state’s competitiveness and economic future. Gov. Phil Murphy has been saying his initiatives to create a fairer economy, such as a minimum wage increase, paid sick leave, etc., are making New Jersey a national leader in progressive policies and in creating a fairer economy.
Bottom line: A millionaire’s tax doesn’t work
File photo Tom Bracken is CEO and president of the New Jersey Chamber of Commerce, based in Trenton. New Jersey’s economic growth continues to be plagued by a lack of affordability, competitiveness and outmigration. Gov. Phil Murphy has proposed an increase in the “millionaire’s tax” designed to raise $447 million — about 1% of the $38.6 billion proposed in the fiscal 2020 budget.
EDA audit: Separating fact from fiction — and why it’s time to stop attacking business community - ROI-NJ
File photo Tom Bracken is the CEO and president of the New Jersey Chamber of Commerce. The partisan winds in Trenton have been blowing hot and heavy since the state comptroller issued a report criticizing the Economic Development Authority’s tax credit and economic incentive programs, and Gov. Phil Murphy intensified the storm when he took the EDA to task in his State of the State address.
EDA audit: Separating fact from fiction — and why it’s time to stop attacking business community - ROI-NJ
File photo Tom Bracken is the CEO and president of the New Jersey Chamber of Commerce. The partisan winds in Trenton have been blowing hot and heavy since the state comptroller issued a report criticizing the Economic Development Authority’s tax credit and economic incentive programs, and Gov. Phil Murphy intensified the storm when he took the EDA to task in his State of the State address.
Op-Ed: It’s Time to Stop Ignoring the Needs of NJ’s Business Community
Credit: NJTV News Tom Bracken, president and CEO of NJ Chamber of Commerce New Jersey received a serious wake-up call last week. Celgene, the Summit-based biosciences company, announced it has reached an agreement to be acquired by New York-based Bristol-Myers Squibb in a blockbuster deal worth $74 billion.
Seven steps to stronger economy in 2019
Gov. Phil Murphy campaigned on creating a “stronger and fairer” economy. Since taking office, the governor and the Legislature have shown an energetic commitment in expediting initiatives for the fairer economy such as mandated paid sick leave, equal pay laws and the upcoming minimum wage increase. The components of the desired fairer economy are in place. File photo New Jersey Chamber of Commerce CEO and President Tom Bracken.
Economic master plan means extraordinary opportunity
For several years, the New Jersey Chamber of Commerce has said the state of New Jersey needs an economic master plan — a practical and realistic roadmap to get our state out of its economic rut and return it to economic vitality. This is why I was extraordinarily pleased to hear Gov. Phil Murphy deliver his Economic Development Strategic Plan in Nutley last week.
Realizing the American Dream at last
I attended Gov. Phil Murphy’s news conference honoring the construction workers at the American Dream complex Tuesday in East Rutherford, and I came away with a strong sense of optimism for this soon-to-open retail and entertainment park, and what it can mean to New Jersey both economically and symbolically.
State budget is done. Now it’s time for N.J. to work on ‘stronger’ economy
The budget has been passed and the negotiations were dynamic. The end result will be very costly and extremely challenging for the business community. However, we must move forward. It is now time to do so with resolve, diligence and expediency. Since his inauguration, Gov. Phil Murphy has been working to fulfill his pledge to create a “stronger and fairer” economy for New Jersey.
With Success On A 'Fairer' Economy, Time To Focus On A 'Stronger' Economy
The budget has been passed and the negotiations were dynamic. The end result will be very costly and extremely challenging for the business community. However, we must move forward. It is now time to do so with resolve, diligence and expediency. Since his inauguration, Gov. Murphy has been working to fulfill his pledge to create a “stronger and fairer” economy for New Jersey. So far he has had success on the “fairer” economy with, among others, the recently mandated paid sick leave and equal pay laws.
N.J. and its businesses shouldn’t have to settle - ROI-NJ
“I ain’t settling for just getting by/I’ve had enough so-so for the rest of my life.” The words from Sugarland’s song “Settlin’” popped into my head as I listened to Gov. Phil Murphy’s inaugural address Tuesday. No one should settle for where New Jersey is today. With the advantages and assets our state enjoys, New Jersey’s economy should be one of the strongest and most robust in the nation, offering opportunities to all of our citizens that are second to none.
Op-Ed: In Budget Aftermath, Time to Restore NJ’s Reputation
All of those words are important to every citizen and every business in New Jersey. They are also crucial to our state’s future. However, when it comes to New Jersey, all of these concepts need an enormous amount of improvement. The budget impasse and the state shutdown did nothing but further diminish the perception of the state in all the above items.
TTF Legislation Is Historic Turning Point For New Jersey
There are moments in our state’s history that represent a turning point. Last week was just such a moment. Governor Christie, Senate President Sweeney and Speaker Prieto reached a landmark agreement that provides critical funding for our Transportation Trust Fund (TTF), while also giving much needed tax breaks to New Jersey consumers, seniors, veterans, and the working poor. This compromise represents a significant benefit for the people of New Jersey and a positive step forward for the state.
Impact of Proposed FCC Ruling on Smaller Cable Operators
In January 2016, the Federal Communications Commission raised eyebrows around the cable industry as chairman Tom Wheeler announced a proposal to “unlock” set-top boxes by creating a software-based replacement for CableCARD. Without the CableCARD requirement, consumers would essentially be able to get cable TV programming on any device (smartphones, tablets and PCs, in addition to TVs) by purchasing an STB from a third-party vendor.
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