On November 30, CWA members from Local 1037, 1036, 1033, and 1032, along with allies from Working Families and the For The Many Coalition, joined together for a Lobby Day & Rally at the Statehouse in Trenton to demand an extension of the Corporate Business Tax (CBT) surcharge. The 2.5% CBT surcharge on profits above $1 million, which targets the wealthiest corporations like Walmart and Amazon, is set to expire at the end of December, resulting in a loss of revenue for the State of nearly $1 billion.
CWA lobbied members of the Assembly to put the needs of working families and communities first and extend the tax to fund critical programs for the residents of New Jersey. “We’re here because greedy corporations making record profits want a tax break to line their pockets even more, and transfer all of these costs to our families,” said Chris Estevez, CWA NJ Legislative & Political Director. “We’re sending a message loud and clear, that the only fair thing to do is to extend this CBT surcharge.”
Late last week, Assemblyman Thomas P. Giblin introduced Bill A5878, which would extend the surtax for two years. CWA members and allies across the state will continue to demand that legislators take action as working people cannot afford to subsidize a mass tax break for the most profitable corporations.