Advocacy at Work

The NJCPA has a strong commitment to advocacy, which is rooted in the belief that we, as a community, are stronger together. As a resource for accounting and finance professionals, the NJCPA strives to improve the livelihoods and economic well-being of our members and the business landscape in which they operate. Whether it’s increasing awareness of accounting careers, initiating pulse checks on important issues or enlisting bipartisan support for causes that advance the accounting profession, it’s vital that we make our collective voices heard with New Jersey legislators.

Additional CPA Licensure Pathway

As many of you know, the NJCPA has proposed legislation to create an additional pathway to obtain CPA licensure in New Jersey: a bachelor’s degree, two years of experience and passing the CPA Exam. The Assembly version of the bill (A5598) passed the full Assembly in May, and the Senate version (S4493) passed the Senate Commerce Committee in June. This fall, it will be up for a vote in the Senate Budget and Appropriations Committee and the full Senate, and then it will go to the Governor to be signed into law. The new pathway will be available to candidates starting on Jan. 1, 2026; the existing pathway of 150 credits, one year of experience and passage of the CPA Exam will remain available. The bill would also maintain individual practice privileges for out-of-state licensed CPAs. You can follow the progress of the bill at njcpa.org/cpapathway.

Economic Pulse Read

In June, we surveyed members ahead of the final $58.8 billion budget signed by Governor Murphy, and nearly 500 of you responded. As always, we are thankful for your involvement and your comments. While the sentiment for the second half of 2025 was decidedly more cautious surrounding New Jersey’s economic landscape compared to the national economy, many of you provided valuable feedback for legislators and members of the press.

More than 55% expected New Jersey’s economy to worsen, while 36% said it would fare about the same, compared to 45% who believed the national economy would worsen during that timeframe, 31% who said it would get better and 24% who expected it to remain the same. The top challenges of respondents’ businesses this year were political headwinds at the state and national level (57%), unfriendly state and federal business policies (43%) and employee and benefit costs (29%). This compares with last year’s top three concerns of inflation (57%), political challenges at the state and federal level (53%) and availability of skilled personnel (47%).

Governor Murphy’s final budget, which represents a 4% increase in annual spending, included a full payment to the state’s pension systems of $7.2 billion; $12.1 billion for K-12 school aid; a new exemption for small business investments and reforms to the Angel Investor Tax Credit; and $4.3 billion in direct property tax relief for New Jersey homeowners and renters. It represents a $1.5 billion structural spending gap, though it maintains a surplus of $6.7 billion. There are tax increases for online gambling, sports betting, cigarettes and vaping as well as on the highest tier of realty transfer fees.

Survey respondents recommended that the state reduce the cost of benefits to public employees, citing it as “unsustain­able.” They also mentioned overreach on corporate taxes and conducting multistate business. However, they praised efforts by Governor Murphy’s Administration to make it more affordable to retire in New Jersey. You can learn more about the survey results and the budget at njcpa.org/njbudget.

Upcoming Election  

Amid New Jersey’s Governor race and with all 80 seats in the state’s General Assembly up for grabs, it’s a significant time to get involved. We encourage everyone to participate in the New Jersey CPA Political Action Committee (NJ-CPA-PAC), which works to protect our profession and supports legislation that benefits CPAs and the business community. Learn more and contribute at njcpa.org/pac.

And be sure to read the feature in the current issue of the magazine that includes responses from both gubernatorial candidates about issues important to CPAs. You can also participate in a live Q&A session with Jack Ciattarelli on Oct. 6. Register at njcpa.org/plus. We extended an invitation to Congresswoman Mikie Sherrill, but she was not available to attend.