Credit: (Newark Mayor's Office)

If a government budget is supposed to address the needs of the people, why does New Jersey’s state budgetary process exclude the people?

Correcting our state budget vision and state budget process is one of the main reasons I have decided to run for governor because in the chaotic rush to get a budget approved each June, the voices of the people go unheard, and their need for greater equity goes unaddressed.

The current process, which begins this week, is an opaque mystery filled with uncertainty and lacking meaningful vision. It almost seems like busywork for our governors and Legislature, a tiresome and tedious annual task met with dread.

The rushed process lends itself to the cynical view that their top priority is to just get it done and out of the way, like a kid rushing through their homework before the school bell rings.

It is hammered out in the dark, which is antidemocratic. Last year, the Senate and Assembly budget committees each held 12 days of public hearings spread over two months. In those hearings, which consisted of only one or two three-hour sessions, 23 were held in committee rooms in Trenton. Only one was brought to the people, when the Senate held their first hearing at the New Jersey Institute of Technology.

I intend to change that.

First, the aim of the annual state budget would be to forge a path to greater equity, which has been systematically and purposely neglected since colonial times.

Second, I would add six additional weeks to the public hearing schedule and those hearings would be held at different locations throughout the state, so voices from High Point to Cape May and Newark to Camden can be heard.

New Jersey is not only diverse in the racial, ethnic and religious makeup of our people, but in our socioeconomic strata and geographic needs. The state government should stand before all our people and make it convenient for ideas and needs to be heard, not just those of lobbyists and organizations that have influence with legislators.

An equitable people-centered budget begins with an equitable people-centered process.

As it stands, New Jersey’s budget works well for the wealthiest among us but places the highest burden on the bottom half of income earners through regressive taxes on retail sales, nonfood essentials, gas and tolls. So, I will demand that all budget proposals and tax policies go through an equity impact study, much the way we ask developers to do environmental impact studies.

By making equity our North Star, we can create a budget that puts people first. It’s proven that the greater the equity in our society, the stronger and more resilient our economy and ultimately our state will be in the future.

The Baraka Budget to Reimagine New Jersey will include these six priorities:

• Reform of the budget process: Besides the changes above, we will adopt consensus revenue forecasting to project three years ahead to expected revenue and costs in major spending areas and increase the rainy-day fund.
• Reform tax on inherited wealth: We will reinstate the tax on estates worth more than $1 million and create exemptions for lower- and middle-income families.
• Invest in a statewide complete census count: Billions of dollars are left on the table when the census is undercounted and incomplete.
• Create sales tax on luxury items: Chartered flights, limousine rides, private club memberships and other luxury items will be in play.
• Reform income tax brackets: We will reduce the state income tax to 1.4% for households earning less than $90,000 and add graduated increases for eight income brackets beginning at $150,000 and ending at $10 million and above. For instance, those in the $150,000 to $350,000 bracket will pay a 6.37% income tax, same as current. Those making $350,000 to $500,000 will pay 7.5%. These gradual increases top out at 14% for those making $10 million or more. This tax-bracket reform, which is fair and equitable, will bring $2 billion more into the state treasury.
• Reform the mansion tax by adding a second bracket of 2% on home sales over $3 million to the existing 1% on homes over $1 million.

Equity in health, education and opportunity for people of all income levels should be an American God-given right, as promised in our Declaration of Independence.

There is no downside to closing the wealth gaps between our low-income and high-income people through fairer taxation.

Asking the rich to contribute more to the well-being of our society will not negatively impact their lifestyle, but the equity we seek can dramatically improve the lives of those less fortunate. It will allow them to reach higher goals in education, find good jobs, and live healthier and happier lives, all while putting more money into the local economies.