Buono Unveils Economic Plan to Strengthen New Jersey’s Working and Middle Class

New Brunswick, NJ – Democratic gubernatorial candidate and State Senator Barbara Buono today released her plan to revitalize New Jersey’s economy. The Buono Economic Plan focuses on lifting up all New Jerseyans by giving them the training, resources and infrastructure they need to thrive in a 21st century economy.

“My plan was developed with the understanding that a strong economy begins with a strong middle class. In order to have sustainable, long-term growth we must invest in our workforce, schools, small businesses and infrastructure,” said Buono. “As Governor, I will marshal New Jersey’s resources to create jobs and make our state competitive in the global economy.”



You can find the entire Buono Economic Plan here.

The five-part plan calls for making strategic investments in New Jersey workers, ensuring working families can make ends meet and creating partnerships between institutions of higher learning and businesses in emerging industries so that New Jersey is at the forefront of the global economy.

New Jersey was once one of America’s leaders in developing complex technologies and lifesaving medicines. This history can be the foundation for the next generation of businesses that will move the Garden State forward. To make sure that New Jersey’s workers have the necessary skills, the Buono Economic Plan will:

• Restore New Jersey as a leader in research and innovation by emphasizing science, technology, engineering and mathematics (STEM) curriculum in our schools and providing higher education with the resources to expand this workforce.
• Create affordable options in our community colleges and vocational schools to train and retrain our workforce with the skills needed for developing industries.

The second part of the Buono Economic Plan will help working families that have been hurting under Governor Christie earn a living wage. This includes:

• Restoring the Earned Income Tax Credit to 25 percent and marketing it to all eligible families.
• Increasing New Jersey’s minimum wage and tying it to cost of living increases.
• Expanding tax relief for child care expenses that cost the average New Jersey family 9 percent of its monthly income.
• Giving parents the tools to save for their children’s higher education through the NJ BEST program.

As Governor, Barbara Buono will commit to fostering cooperative partnerships between emerging markets and institutions of higher learning, which will define New Jersey as a leader in innovation and help attract high quality businesses. To do this, she will:

• Connect start-up and emerging market businesses with institutions of higher learning.
• Increase investments in research and development to attract new businesses to New Jersey.

Tax credits and incentives work best when targeted at the communities and businesses that need it most. Approximately 95% of all New Jersey companies are small businesses. To help grow this sector of the economy, the Buono Economic Plan will:

• Target assistance to small businesses, many of which are women-and minority-owned.
• Start a Community Solutions program to help small businesses open and grow.
• Target tax credits for small businesses in biotechnology, life sciences, and other advanced fields.
• Restore and strengthen oversight of the Urban Enterprise Zone program

Finally, many people in New Jersey are facing obstacles that can only be removed by the government action. To promote growth, the Buono Economic Plan will:

• Tackle the foreclosure crisis and keep families in their homes.
• Fix crumbling infrastructure by leveraging private capital and federal funds to pay for new projects.
• Renew our commitment to a clean energy economy by investing in renewable energy sources and promoting energy efficiency.