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Wealth Advisor

Anti-Tax Candidate Wins Mandate for Cheap Energy in New Jersey

Gov.-elect Mikie Sherrill has the best political opportunity in America.

Rep. Mikie Sherrill (D., N.J.) made cheap energy and opposition to tax hikes the policy themes of her campaign for governor and won a resounding victory on Tuesday night in the Garden State. Given her congressional record there’s plenty of reason to doubt that she can deliver for New Jersey the affordability she’s promised. But if she can honor the mandate she’s received from voters, Ms. Sherrill can not only revive her slow-growth state but vault herself into the top tier of presidential candidates. Just across the Hudson River from New York City, Gov.-elect Sherrill will be able to use Gotham’s nasty new Marxist mayor as a foil in defining herself as a practical problem-solver.

This fall New Jersey residents may have had a hard time figuring out which candidate for governor was the Republican amid ubiquitous television advertisements presenting Ms. Sherrill as a tax foe. Some found it especially comical given that the ads seemed to be running on an endless loop just months after she had voted for trillions of dollars in federal tax hikes. (Fortunately she was on the losing side of the House vote.) Regardless, voters have chosen her to restrain New Jersey’s crushingly expensive governance burden. Now Gov.-elect Sherrill should continue to offer her defeated opponent, Jack Ciattarelli, the sincerest form of flattery by embracing his proposal to begin lowering the country’s highest state corporate income tax rate.

A bold cut would not only reignite the state’s economy. It would also show a refreshing independent streak and provide a perfect contrast to the tragic experiment about to commence in New York City, where Mayor-elect Zohran Mamdani has expressed his admiration for Jersey’s sky-high 11.5% top corporate tax rate. Comrade Mamdani’s plan would actually take the top rate for companies in New York City much higher, which can only sharpen the contrast between dreary, declining New York City and a resurgent New Jersey.

The Jersey revival won’t happen without tax reform. As Sherrill’s campaign website noted:

Our tax system, particularly our high property tax rates, all too often makes our state unaffordable for families. High taxes have contributed to both families and businesses leaving NJ for neighboring states with lower tax burdens. Providing tax relief to families will make life more affordable and our economy more competitive.

There’s a similar story and a similar Sherrill opportunity when it comes to Garden State electric bills. It may have been ludicrous for a lawmaker who voted for unproductive Biden green boondoggles to present herself as the champion of cheap energy. But she did and voters responded, so Ms. Sherrill now has a mandate to stop favoring inefficient windmill experiments blotting the Jersey Shore. Instead she can allow energy suppliers to meet the demands of consumers, including with nuclear power, natural gas and the infrastructure needed to keep the state humming.

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