>>> MAJOR FUNDING FOR CHAT BOX WITH DAVID CRUISE IS PROVIDED BY THE MEMBERS OF THE NEW JERSEY EDUCATION ASSOCIATION, MAKING PUBLIC SCHOOLS GREAT FOR EVERY CHILD.

MJM INSURANCE GROUP, SERVING THE INSURANCE NEEDS FOR NEW JERSEY RESIDENTS FOR HUNDREDS OF YEARS.

PROMOTIONAL SUPPORT IS PROVIDED BY INSIDER NJ.

INSIDER NJ IS COMMITTED TO GIVING SERIOUS POLITICAL PLAYERS AN INTERACTIVE FORUM FOR IDEAS, DISCUSSION, AND INCITE.

ONLINE AT INSIDER NJ.COM.

♪ >>> HI, EVERYBODY.

WELCOME TO CHAT BOX.

I'M DAVID CRUISE.

POLITICS IS IN THE AIR, AND IN A LITTLE BIT, WE'RE GOING TO TALK WITH A SMALL TOWN MAYOR.

WE BEGIN TODAY WITH SOME BUDGET TALK.

IF YOU WATCHED, YOU HEARD THE PHRASE NEXT NEW JERSEY MORE THAN A DOZEN TIMES.

WHAT EXACTLY DOES THAT MEAN?

I HAVE NO IDEA.

HOPEFULLY OUR GUEST MIGHT NOW.

SHE'S THE PRESIDENT AND CEO OF THE NEW JERSEY BUSINESS AND INDUSTRY ASSOCIATION, AND SHEILA IS A SENIOR POLICY ANALYST WITH A FOCUS ON BUDGET AND TAX ISSUES FOR NJ POLICY PERSPECTIVE.

WELCOME TO YOU BOTH.

MICHELLE, WHAT DO YOU UNDERSTAND NEXT NEW JERSEY TO MEAN?

>> WELL, THE GOVERNOR SAID KIND OF IN THE SAME VAIN WE'RE LIVING THE NEXT NEW JERSEY, SO, YOU KNOW, WHAT DOES THE NEXT NEW JERSEY MEAN?

I HOPE IT MEANS AFFORDABILITY AND REGIONAL COMPETITIVENESS.

THAT'S WHAT WE'RE HOPING FOR FROM OUR END.

>> SHEILA, YOU WANT TO TAKE A CRACK AT DEFINING THAT?

>> SURE.

HE DEFINITELY FOCUSED ON AFFORDABILITY AND GOOD OPPORTUNITY.

THAT WOULD BE NEW TAX CREDIT EXPANDED FROM $500 TO $1,000.

WE WOULD LIKE TO SEE THAT CHILD TAX CREDIT AGE GO UP FROM 6 TO 12 BECAUSE IT'S STILL VERY EXPENSIVE TO RAISE A CHILD HERE IN NEW JERSEY.

BUT THAT'S ONE OF THE EXAMPLES.

THE OTHERS WOULD INCLUDE THE ANCHOR PROGRAM, WHICH IS SUCCESSFUL PROPERTY TAX RELIEF PROGRAM HE INTRODUCED LAST YEAR.

SAME AMOUNT OF MONEY GOING INTO THAT THIS YEAR.

SCHOOL FUNDING IS GETTING ANOTHER BILLION DOLLARS.

BUT I HAVE TO SAY THE ONE THAT DOESN'T REALLY MAKE SENSE FROM OUR POINT OF VIEW IS THE SUN SETTING OF THE CORPORATE BUSINESS TAX SURCHARGE.

>> DEFINITELY GOING TO TALK ABOUT THAT.

LET'S START AT THE TOP WITH THE GOVERNOR MAKING IT OFFICIAL HE'S ALL IN ON WATCHING THAT CORPORATE BUSINESS TAX EXPIRE, AS PROMISED, HE SAID.

MICHELLE, WHY IS THAT GOOD?

>> IT'S THE RIGHT THING TO DO.

PROMISE MADE, PROMISE KEPT.

IT WAS A TEMPORARY SURCHARGE AT A TIME THE BUSINESS COMMUNITY RESPECTFULLY SAID WE UNDERSTAND, GOVERNOR, YOU NEED SOME TIME TO GET YOUR ARMS AROUND THE BUDGET.

IT WAS SUPPOSED TO EXPIRE TWO YEARS AGO.

WE WERE AT THE CUSP OF COVID.

BUSINESS COMMUNITY AGAIN STOOD BACK AND SAID, WE UNDERSTAND, GOVERNOR.

WE DON'T KNOW WHAT'S GOING TO HAPPEN WITH COVID.

HERE WE ARE TODAY WITH A $10 MILLION SURPLUS AND NO REASON TO KEEP WHAT WAS SUPPOSED TO BE A TEMPORARY TAX IN PLACE.

WITH THE HIGHEST CORPORATE BUSINESS TAX IN THE NATION, AND EVEN AFTER THE SUN SETS, WE'LL STILL BE IN THE TOP FOUR.

>> SHEILA, WHAT'S YOUR SIDE OF THE ARGUMENT?

>> WHEN YOU LOOK AT IT IN THE CONTEXT OF ONGOING SOARING PROFITS, IT'S HARD TO GRAPPLE WITH THIS DECISION FOR EFRL REASONS, NOT OF THE LEAST WHICH IS THE SHOCKING ADMISSION AND THE SUN SET BRIEF THAT IT WILL BE A $1 BILLION GIVE AWAY NEXT SEASON.

SO THIS REVENUE SOURCE IS MUCH LARGER THAN ORIGINALLY ESTIMATED BACK IN 2018 BECAUSE PROFITS ARE VERY STRONG, WHICH IS EVIDENT.

BUT ADDITIONALLY, TALKING ABOUT THE CORPORATE TAX RATE IN NEW JERSEY IS A MISLEADING INDICATOR WHEN WE BOTH KNOW THE SAME WEALTHY CORPORATIONS THAT PAY THE SURTAX HAVE AN ARMY OF TAX LAWYERS TO DROP THE EFFECTIVE RATE, IN MANY CASES INTO A SINGLE DIGIT.

SOMETHING THAT MOM AND POP BUSINESSES OF NEW JERSEY CERTAINLY CAN'T DO.

SO, AGAIN, WE CONSIDER THE CURRENT SURTAX ACTS AS A COUNTERMEASURE.

>> MICHELLE, SHOULDN'T BIG BUSINESS LIKE AMAZON AND WALMART WHO DO PRETTY GOOD HERE IN NEW JERSEY, SHOULDN'T THEY PAY MORE?

>> THEY'RE PAYING THEIR FAIR SHARE.

LET ME REPEAT.

WE'RE THE LARGEST IN THE NATION, AND EVEN AFTER THE SUN SETS, WE'LL STILL BE IN THE FOURTH LARGEST.

LET'S NOT INVITE HEM TO TAKE THOSE JOBS SOMEWHERE ELSE.

MIGRATION IS STILL AN ISSUE HERE IN THE STATE OF NEW JERSEY.

WE ALSO PAY THE HIGHEST PROPERTY TAXES IN THE NATION, AND NEW JERSEY BUSINESSES PAY ALMOST 50% OF THOSE PROPERTY TAXES.

YOU DON'T SEE ANY PROPERTY TAX RELIEF FOR NEW JERSEY BUSINESSES RIGHT NOW.

YOU ALSO SEE BUSINESSES GETTING AN EMPLOYEE TRUST FUND INCREASE.

EVERY DOLLAR COUNTS IN NEW JERSEY.

LET'S NOT INVITE THEM TO TAKE BUSINESS ELSEWHERE, ESPECIALLY IN A WORLD OF REMOTE WORK WHERE YOU CAN MOVE BUSINESSES ALL TOO EASILY AND ATTRACT WORKERS FROM ANYWHERE IN THE COUNTRY.

THEY'RE GOING TO PICK LOWER TAX STATES.

WHY WOULDN'T THEY?

IT'S ABOUT THE BOTTOM LINE.

>> THE BUSINESS COMMUNITY SAYS SOMETHING ABOUT THAT VERY FREQUENTLY.

THEY SAY WE HAVE THE WORST BUSINESS ENVIRONMENT IN THE COUNTRY.

YOU WOULD DISAGREE WITH THAT, I IMAGINE?

>> WELL, SURE.

CONCERNS OVER BUSINESS RELOCATION TRENDS ARE UNDERSTANDABLE GIVEN THE IMPLICATION FOR A STATE'S ECONOMY AND TAX BASE.

BUT THE SURTAX SERVES AS THE PERFECT INDICATOR.

IT'S BEEN IN PLACE FOR FIVE YEARS WHEN A NUMBER OF BUSINESSES JUMPED INTO NEW JERSEY WITH BOTH FEET.

I'M TALKING ABOUT NETFLIX.

THEY SERVED 3,000 JOBS FROM WISCONSIN TO NEW JERSEY.

LAST YEAR, WEB MD MOVED TO NEW JERSEY.

LOOP IN PHARMA, ONE OF THE LARGEST PHARMACEUTICAL COMPANIES EXPANDED IN NEW JERSEY ALL WHILE THE SURTAX WAS IN PLACE.

SURVEYS SHOW THAT TAXES ARE NEAR THE BOTTOM OF THE LIST OF CONSIDERATIONS BUSINESSES MAKE WHEN DECIDING TO EXPAND.

AND THE ASSUMPTION THAT LOWERING THE TAX RATE WILL BE A DECIDING FACTOR IGNORES THE OTHER SIDE OF THE EQUATION, WHICH IS TWOFOLD.

WHEN YOU CUT TAXES, YOU DRIVE CUTS TO SCHOOLS, HARMFUL CUTS TO SCHOOLS, HEALTH PROGRAMS, PARKS, AND OTHER PUBLIC GOODS, AND THAT MAKES OUR STATE LESS ATTRACTIVE TO BUSINESSES LOOKING TO INVEST IN NEW JERSEY, NOT MORE.

THE OTHER POINT I WANT TO MAKE IS WE ARE WITNESSING JUST AN INCREDIBLE UPTICK OF STOCK BUY BACKS, RIGHT?

SO THE ARGUMENT THAT A CORPORATE TAX CUT WILL STIMULATE JOB GROWTH AND EXPANSION HAS BEEN DISPROVEN GIVEN WHAT HAPPENED AFTER THE TRUMP ERA TAX CUTS WENT INTO EFFECT.

INSTEAD OF REINVESTING THOSE TAX SAVINGS, CORPORATIONS SEEM HELL BENT ON REWARDING SHAREHOLDERS AND EXECUTIVES.

THE WALL STREET JOURNAL TODAY SAYS THAT STOCK BUY BACKS BY COMPANIES IN THE SNP 500 ARE EXPECTED TO TROOP $1 TRILLION FOR THE FIRST TIME THIS YEAR.

IT'S SHAMELESS.

IT HAS ABSOLUTELY DECIMATED THIS ENTIRE TALKING POINT THAT TAX CUTS MEANS ECONOMIC GROWTH.

>> MICHELLE, THAT SOUNDS TO A LOT OF PEOPLE LIKE TRICKLE DOWN.

AND ALSO, SOMEBODY'S GOT TO PICK UP THE SLACK.

IF YOU LOSE THAT BILLION DOLLARS, IT'S GOT TO COME FROM SOMEWHERE, NO?

>> IT'S GOING TO COME FROM INCREASED GROWTH.

OUR NEIGHBOR PEN IS ON A MULTIYEAR PLAN TO DRIVE DOWN THEIR CORPORATE BUSINESS TAX.

THEY JUST CAME DOWN BELOW US.

PENNSYLVANIA EATS OUR LUNCH EVERY DAY ON BUSINESS ATTRACTION AND RETENTION.

SO THEY FOUND A BIPARTISAN WAY, AND THEY SHOWED THE STATES WITH THE LOWEST CBTs HAD THE MOST GROWTH OVER THE LAST YEARS.

WHEN CBT COMES DOWN, IT HAS A BETTER IMPACT ON WAGES TO WORKERS, AND LABOR SUPPORTS IT.

IT'S A LARGE STAKE HOLDER GROUP THAT BELIEVES THIS IS THE RIGHT THING TO DO.

NEW JERSEY BUSINESSES ARE PAYING MORE THAN THEIR FAIR SHARE.

THEY'RE PAYING MORE TO ANY OTHER STATE IN THE NATION, THEY'RE PAYING HERE IN NEW JERSEY.

>> SHEILA, YOU CHUCKLED.

I HEARD YOU.

>> IT GOES BACK TO THE IDEA THAT A DEAL IS A DEAL.

LET'S KEEP OUR WORD.

IF WE'RE REALLY BEING HONEST, WEALTHY CORPORATIONS BROKE THE DEAL A LONG TIME AGO.

AS SOCIETY, WE'VE LONG DEPENDED ON THIS SYSTEM TO PULL OUR RESOURCES TO HELP PAY FOR PUBLIC GOODS, AND IT GETS REDISTRIBUTED TO HELP OUR SCHOOLS AND PARKS AND PUBLIC TRANSIT.

BUT SOMEWHERE ALONG THE LINE, WEALTHY CORPORATIONS DECIDED THEY WANTED TO PAY LESS THAN ANYBODY ELSE.

AND OVER TIME WITH AN ARMY OF WEALTH MANAGERS AND TAX LAWYERS AND LOBBYISTS AND ACCOUNTANTS, THEY HAVE BEEN GIVEN THE GREEN LIGHT.

THIS IS TRUE IN NEW JERSEY.

BACK IN 2012, $660 MILLION OF TAX CUTS WENT INTO EFFECT.

THOSE ARE STILL IN PLACE TODAY, LEADING TO A $6 BILLION HOLE OVER THE LAST DECADE.

THAT'S REALLY IMPORTANT TO KEEP IN CONTEXT THAT WE HAVE BEEN DEALING WITH THE ERA OF TAX CUTS THAT HAVE ROBBED THE STATE RESOURCES.

I MEAN CAN ANYONE SAY WITH CONFIDENCE THAT GIVING AWAY TAX SUBSIDIES WORTH $70,000 A JOB HAS REALLY PAID OFF?

IF ANYTHING, I WOULD SAY THE SURTAX HAS ACTED AS A MINOR COUNTERMEASURE TO THIS ERA OF DEEP TAX CUTS AND WASTEFUL TAX SUBSIDIES.

LETTING THE TAX -- THE SURTAX GO AT A TIME OF RECORD-BREAKING PROFITS IS THE DEFINITION OF TRICKLE DOWN ECONOMICS AND A SCENARIO WE'VE SEEN DURING THE CHRISTY AREA THAT DECIMATED -- >> LET ME HAVE MICHELLE JUMP IN THERE.

YOU LOOKED LIKE YOU WANTED TO SAY SOMETHING.

>> WELL, I DID.

I'M LOOKING AT THE STATE OF OUR ECONOMY AND A $10 BILLION SURPLUS, MULTIPLE YEARS OF SURPLUS, BILLIONS OF DOLLARS IN DEBT THAT NEW JERSEY TOOK ON WE DIDN'T NEED TO.

$6 BILLION OF FEDERAL AID THAT CAME INTO NEW JERSEY.

NEW JERSEY BUSINESS COMMUNITY, YOU KNOW, THEY'RE CONSTANTLY PUT OUT THERE AS GREEDY AND CORPORATE WELFARE AND YOU WANT TO DRIVE THIS MESSAGE, AND IT'S SO UNFAIR.

THESE BUSINESSES CONTRIBUTE BACK TO YOUR COMMUNITY EACH AND EVERY DAY.

OUR LOCAL COMMUNITIES WOULD HAVE NOTHING AT THE LOCAL LEVEL IF IT WASN'T NEW JERSEY BUSINESSES THAT CONTRIBUTED BACK.

YOU WANT TO HAVE A DISCUSSION ABOUT IMPACT INTO WAGES.

WAGE HAVE RISEN BECAUSE THE MARKETS HAVE DRIVEN IT, NOT MANDATES.

YOU'RE SUGGESTING WE'VE LOST ALL THESE RESOURCES.

HERE WE ARE SITTING ON AN EXTREMELY LARGE ECONOMY RIGHT NOW WITH SO MUCH SURPLUS, IT'S TIME TO APPRECIATE WHAT NEW JERSEY BUSINESS DOES FOR NEW JERSEY ECONOMY AND STOP DEMONIZING NEW JERSEY BUSINESS.

REMEMBER, THEY'RE THE JOB CREATORS.

WITHOUT JOBS, WE DON'T HAVE AN OPPORTUNITY FOR INCOME.

WE DON'T HAVE OPPORTUNITY TO SPEND BACK INTO OUR ECONOMY.

LET'S CONTINUE TO CREATE JOBS AND NOT DEMONIZE THEM.

>> LET ME SWITCH TOPICS.

I WANT TO TALK ABOUT NJ TRANSIT.

I DON'T THINK EITHER OF YOU REPORTS TO BE A TRANSPORTATION EXPERT.

BUT EVERY YEAR WE HEAR ABOUT A STEADY FUNDING SOURCE FOR THE AGENCY.

THAT IS NOT IN THE BED JET THIS YEAR.

ALSO ROBBING CAPITAL FUNDS TO PAY FOR OPERATIONS.

STILL DOING THAT, THAT'S A TIME BOMB TICKING, NO?

>> YEAH.

THANK YOU FOR BRINGING IT UP.

THIS IS A PERFECT EXAMPLE OF NEW JERSEY NOT BEING ABLE TO RAISE THE REVENUE IT NEEDS TO MEET ITS SPENDING NEEDS.

WE SHOULD ABSOLUTELY BE WORKING DILIGENTLY TO FIGURE OUT A DEDICATED SOURCE OF FUNDING SUSTAINABLE, LONG-LASTING REVENUE TO HELP MAKE SURE THAT THAT REMAINS A JEWEL FOR NEW JERSEY.

>> MICHELLE, WHAT ABOUT THAT NJ TRANSIT?

>> WE BELIEVE IN INVESTMENT AND INFRASTRUCTURE EACH AND EVERY DAY.

SIGNIFICANTLY IMPORTANT.

WE'VE ALWAYS SUPPORTED THAT.

WE DON'T LIKE MOVING MONEY AROUND FOR OPERATIONS.

THAT SHOULD BE OTHERWISE.

SO WE CAN AGREE UPON THAT.

WE HAVE AN OVERSIZED SURPLUS STARING AT US AT $10 BILLION.

I THINK WE CAN KEEP SOME SURPLUS AND SOME CUSHION AND TAKE SOME OF THAT MONEY AND REDIRECT IT TO THINGS LIKE INVESTMENT IN INFRASTRUCTURE, INVESTMENT IN INNOVATION, INVESTMENT IN THINGS THAT MOVE THE NEEDLE HERE IN THE STATE OF NEW JERSEY.

WE HAVE AN OPPORTUNITY TO DO THAT.

>> YOU TOOK ME TO MY NEXT QUESTION.

A LOT OF REPUBLICANS PARTICULARLY HAD BEEN COMPLAINING THAT THAT $10 BILLION IS A REALLY BIG SURPLUS AND NOT IN A GOOD WAY, I SHOULD ADD.

>> IT CERTAINLY IS.

I THINK IT'S FINE.

I THINK THE SURPLUS IS SORT OF A SET BACK FOR THE NEXT FISCAL YEAR.

UNFORT UNFORTUNATELY, NEW JERSEY DOES A BAD JOB OF LOOKING AT THE BUDGET AS A NEXT YEAR PROJECT.

LIKE, IN CASE WE GET TROUBLE, WE HAVE A LITTLE CUSHION.

I WOULD SEE THAT APPROACH BE BROADENED OUT TO THREE YEARS OR FIVE YEARS SO WE CAN SAY, OKAY, LET'S PUT SOME OF IT INTO THE RAINY DAY FUND IN CASE OF AN EMERGENCY, AND THE REST SHOULD BE THERE IN CASE WE DO SEE AN UNFORESEEN ECONOMIC DOWNTURN, WHICH AGAIN IS COMPLETELY UP IN THE AIR.

THERE SEEMS TO BE NO CONSENSUS ABOUT WHERE WE'RE GOING IN THE ECONOMY IN THE FUTURE.

>> WE KEEP HEARING ABOUT A FISCAL CLIFF THAT IS LOOMING.

IS IT A POTENTIAL RECESSION OR JUST A STATE THAT IS OVEREXTENDED IT?

>> WELL, IT COULD BE A LITTLE BIT OF BOTH.

WE HAVE BEEN TALKING ABOUT POTENTIAL FOR A RECESSION FOR A WHILE NOW.

I HEARD SOMEONE SAY THIS IS THE MOST ADVERTISED RECESSION IN HISTORY.

IF WE'RE NOT PREPARED FOR IT WHEN IT COMES, THAT CAN WE SAY BECAUSE WE'VE KNOWN ABOUT IT FOR MONTHS AND MONTHS.

BUT THE INDICATORS AREN'T TAKING US THERE YET.

EMPLOYMENT RECORDS ARE SOLID.

BUT WE HAVE TO BE CAUTIOUS, VERY CAUTIOUS.

I'M NOT SAYING WIPE OUT THE WHOLE SURPLUS.

I THINK IT'S IMPORTANT.

IT'S IMPORTANT TO HAVE MONEY IN A RAINY DAY FUND AND BE PREPARED FOR SURE.

WE THINK IT'S AN OVERSIZED SURPLUS AND WE THINK THE MONEY CAN BE PUT TO BETTER USE RIGHT NOW WHEN THE ECONOMY IS STRONG.

OUR BUSINESSES NEED A LIFTUP.

THEY'RE GOING TO BE LOOKING AT ANOTHER INCREASE IN THE EMPLOYMENT TRUST FUND COME JULY.

THEY ARE GOING TO HAVE A TAX INCREASE.

NO ONE'S TALKING ABOUT THAT.

NO ONE IS TALKING ABOUT THE FACT THAT ANCHOR DOESN'T EXTEND TO NEW JERSEY BUSINESS OWNERS WHO PAY ALMOST 50% OF PROPERTY TAXES IN THE NATION.

WE HAVE INCREASED COSTS COMING OUR WAY, AND WE DON'T GET THE PROPERTY TAX RELIEF THAT OTHERS DO.

SOME OF THAT SURPLUS, AGAIN, OVERSIZED, WE THINK WE CAN RIGHT SIZE IT AND USE SOME OF THAT MONEY FOR MORE SUSTAINABLE NEEDS.

>> ALL RIGHT.

GOOD TO SEE YOU BOTH.

THANKS FOR COMING ON.

>> THANK YOU SO MUCH.

>> THANKS SO MUCH.

>> USUALLY IN NEW JERSEY POLITICS, THERE'S AN ORDER OF ASCENSION.

YOU START ON THE LOCAL PARTY COMMITTEE, MAYBE MOVE UP TO CITY COUNCIL, MAYOR, YOU GET THE IDEA.

WELL, ONE SMALL TOWN MAYOR SAYS HE'S SKIPPING THE LINE AND CHALLENGING ONE OF THE MOST POWERFUL POLITICAL FIGURES IN THE STATE.

JOE CIGARELLO JOINS US NOW.

WELCOME TO CHAT BOX.

>> VERY GLAD TO BE HERE.

USUALLY THAT'S THE ORDER OF OPERATIONS.

>> SO WHO THE HELL DO YOU THINK YOU ARE?

IS PROBABLY SOMETHING YOU'VE HEARD OVER THE PAST COUPLE OF WEEKS WHEN YOU ANNOUNCED YOU WERE CHALLENGING SENATOR BOB MENENDEZ, NO?

>> I'VE GOTTEN A DECENT AMOUNT OF THAT.

IT'S BEEN MORE POSITIVE THAN YOU WOULD THINK.

BEHIND CLOSED DOORS -- AND I THINK THIS IS PAR FOR THE COURSE WITHIN NJ NN FOR BETTER OR WORSE -- DEMOCRATS CLOSE RANKS AND WE CLOSE EACH OTHER OUT ON THE OUTSIDE.

BEHIND CLOSED DOORS, IT CAN BE DIFFERENT.

SO I GET A LOT OF, HEY, YOU'RE CRAZY, BUT I GET WHY YOU'RE DOING THIS.

I'M GOING TO WRITE YOU A CHECK BUT NOT ONE SENATOR MENENDEZ CAN SEE.

>> SO WHAT ARE YOU DOING HERE?

>> I THINK WE ARE KIND OF AT AN INFLECTION POINT WITH OUR DEMOCRACY, AND I THINK IN THE STATE WHERE ABNORMAL TIMES SOMETIMES CALL FOR ABNORMAL SOLUTIONS.

I USE THE TERM ABNORMAL, BUT I DON'T THINK IT'S A BAD THING.

WE ARE AT A POINT WHERE I THINK PEOPLE ARE FRUSTRATED WITH THE WAY POLITICS HAVE WORKED, ESPECIALLY IN THE STATE OF NEW JERSEY.

I THINK PEOPLE ARE OPEN MINDED TO A FRESH FACE.

I THINK THAT TIME IS NOW.

I WOULD SAY FINALLY, ALSO, BEYOND SENATOR MENENDEZ, WHICH, LOOK, THERE ARE THINGS HE AND I SEE EYE TO EYE ON.

WE'RE BOTH DEMOCRATS.

THE AVERAGE AGE OF A SENATOR IS 64 YEARS OLD.

THERE'S A GENERATION OF NEW PROBLEMS AND NEW SOLUTIONS THAT NEED TO BE LAID BARE, AND I THINK IT'S TIME TO START ENGAGING MILLENNIALS LIKE MYSELF IN THOSE SOLUTIONS.

>> SO WHAT'S THE JOE PHILOSOPHY OF THINGS?

WHAT DO YOU STAND FOR?

>> SO JUST A SHORT BACKGROUND.

SO I GREW UP IN NEW JERSEY.

I HAVE A BACKGROUND IN TECHNOLOGY AND BUSINESS MANAGEMENT.

I'VE WENT ON TO WORK AROUND THE WORLD.

I SPEAK FLUENT GERMAN, WHICH IS A VERY COOL PARTY TRICK, BUT NOT SUPER USEFUL IN MY POLITICAL CAREER AT THE MOMENT.

I WORK IN VENTURE CAPITAL.

I'M TAKING A SABBATICAL TO RUN.

I THINK I BRING A TECH FORWARDNESS WHICH HASN'T BEEN THERE.

IT'S BEEN MY DAY TO DAY TO RUN AND START UP TECH COMPANIES.

I KNOW WHAT IT TAKES TO START ONE UP AND RUN ONE.

I ALSO FEEL LIKE I REPRESENT AN AREA OF VIEWS THAT ISN'T NECESSARILY FOUGHT FOR FOR MORE CURRENT DELEGATION.

I ACTUALLY -- LOOK, IF PEOPLE WANT TO LABEL ME A PROGRESSIVE, THEN THAT'S OKAY.

I'VE LIVED AND WORKED IN OTHER COUNTRIES WHERE MEDICARE FOR ALL, UNIVERSAL HEALTH CARE WORKS AND IS NOT OUT OF THE ORDINARY.

I'VE WORKED IN COUNTRIES WHERE TRAINS WORK WELL AND ON TIME, AND THAT'S A GREAT THING TO HAVE.

I THINK THESE ARE THINGS THAT SHOULDN'T BE SO, YOU KNOW, LEFT WING FRINGE.

THESE SHOULD BE IN THE MAIN STREAM, AND NEW JERSEY SHOULD BE AT THE FOREFRONT OF IT.

>> NONE OF THAT SOUNDS LIKE MENENDEZ WOULD SAY NO TO ANY OF IT.

SO HE CHAIRS SENATE FOREIGN RELATIONS COMMITTEE FOR INSTANCE, HOW WOULD SENATOR CIGNARELLI DIFFER?

>> CIGNARELLO.

>> JUST DON'T CALL ME CRUZ AND WE'LL BE ALL RIGHT.

>> THERE'S A DIFFERENTIATOR ON TWO FRONTS.

I DON'T DISAGREE WITH YOU.

I DON'T THINK SENATOR MENENDEZ WOULD DISAGREE WITH ME ON A LOT OF THOSE NATIONAL POLITICS.

BUT MY CONTENTION WOULD BE HE WAS IN THE ROOM WHEN OBAMA CARE WAS PASSED, AND NEW JERSEY IS ONE OF THE BLUEST STATES AND THE FOUNDING 13 COLONIES SHOULD BE AT THE FOREFRONT OF THESE IDEAS.

WE SHOULDN'T BE LETTING AN INDEPENDENT FROM VERMONT BE LEADING FOREFRONT WHEN IT COMES TO THESE PROGRESSIVE IDEAS, WITH ALL DUE RESPECT FOR SENATOR SANDERS.

I WOULD ALSO SAY, YOU KNOW, IF HE'S DONE IT, HE HASN'T EXACTLY BEEN VOCAL ABOUT IT, AND HE'S BEEN SIDELINED BECAUSE OF CONTROVERSIES, SO WE HAVE FIGHTING WITH ONE ARM TIED BEHIND OUR BACK.

WHEN IT COMES TO FOREIGN POLICY, I WOULD LIKE TO THINK I'M MORE ADVANCED THAN MOST SMALL TOWN MAYORS HAVING LIVED AND WORKED IN EUROPE.

I AGREE TO SOME EXTENT ON HIS VIEWS ON CUBA.

I THINK THE OBAMA ADMINISTRATION WANTED TO MAKE LEAPS AND BOUNDS TOWARDS CUBA.

I THINK HE'S IN THE RIGHT ON UKRAINE.

I THINK I WOULD GO A STEP FURTHER.

I THINK THE SITUATION WE HAVE WITH RUSSIA IS AN EXISTENTIAL THREAT TO OUR FREEDOMS HERE, AND I THINK WE NEED TO BE AT THE FOREFRONT AND SUPPLY THEM WITH EVERYTHING WE NEED TO SUPPLY THEM WITH TO BEAT THE RUSSIANS.

>> SO YOU RAN FOR SENATE, AND NOW YOU'RE RUNNING FOR U.S. SENATE.

WHAT DO YOU SAY TO RESIDENTS WHO MAY BE WONDERING IF THEIR LITTLE TOWN IS JUST A STEPPINGSTONE FOR A POLITICALLY AMBITIOUS YOUNG GUY?

>> THEY LOVE IT TO BE HONEST WITH YOU.

I GOT TO BE HONEST WITH YOU.

FIRST OFF, I CAN WALK AND CHEW GUM AT THE SAME TIME.

I LOVE BEING MAYOR.

I LOVE THE WORK WE'VE DONE HERE.

ANYONE WHO'S PASSED THROUGH ROUTE 28 CAN SEE THE DIFFERENCE IN WHAT WE'RE BUILDING AND DEVELOPING TOWARDS.

I THINK MOST ROSAL PARKERS LOVE THAT WE'RE A LITTLE TOWN WITH A LITTLE BIT OF AN ATTITUDE AND A LITTLE CHIP ON THEIR SHOULDER.

THEY HAVE A LITTLE MAYOR WHO FEELS THE SAME AND WANTS TO SWING ABOVE THEIR WEIGHT CLASS.

THIS ISN'T UNFOUNDED.

JOHN FETTERMAN JUST GOT ELECTED TO THE SENATE.

HE'S TRIED IT TWICE.

HE REPRESENTED A TOWN THAT IS 1/5 THE SIZE OF ROSAL PARK.

I THINK THERE IS VALUE TO HAVING A SMALL TOWN MAYOR IN THE SENATE BECAUSE A LOT OF POLICIES, ALTHOUGH WELL MEANT WHEN PASSED IN D.C., I THINK A LOT OF THESE FOLKS ARE FAR FROM THEIR COUNCIL MAYORAL DAYS AND DON'T REALIZE THE DIFFICULTIES THAT SOME OF THESE THINGS HAVE OR REPRESENT WHEN THE RUBBER HITS THE ROAD.

I THINK THEY DIG IT.

>> SO SOMEONE SAID TO ME TODAY WHEN WE WERE TALKING ABOUT YOU, THEY WERE LIKE, HEY, LOOK, THE LAST PERSON WHO PRIMARIED MENENDEZ, HALF A CRACK POT -- THEIR WORDS, NOT MINE -- HAD 38%.

AND YOU, YOU GET 38%, THAT'S A LOT DIFFERENT THAN THE OTHER PERSON WHO GOT 38% BECAUSE 38% IN A PRIMARY IS A GOOD THING FOR YOU POLITICALLY IN THE FUTURE.

>> I'M IN THIS RACE TO BECOME A U.S.

SENATOR, RIGHT?

THIS IS NOT SOME EVIL CALCULATED GAME TO TRY TO GET SOMETHING ELSE OUT OF IT.

I WANT TO BE A SENATOR, AND I THINK I WILL DO A FANTASTIC JOB OVER THE COURSE OF THIS PRESENTING WHY A SMALL TOWN MAYOR WITH MY SKILL SET CAN BE A FANTASTIC SENATOR FOR THE STATE OF NEW JERSEY.

I WOULD ALSO SAY I GIVE -- SO IT WAS LISA McCORMICK THAT RAN SIX YEARS AGO.

OBVIOUSLY SHE'S GOT VIEWS THAT AREN'T IN LINE WITH ALL THE MAIN STREAM DEMOCRATS.

ANYBODY WHO GOES OUT THERE AND FIGHTS AGAINST THE POWERS THAT BE, I GIVE CREDIT TO.

BUT I WOULD BE LYING IF I DIDN'T SAY I DIDN'T SEE THAT AS A BASELINE EITHER.

SHE DID THAT WITH RAISING UNDER $5,000.

THERE'S A PROTEST OF PEOPLE WHO UNDERSTAND HOW PROBLEMATIC BOB MENENDEZ IS.

I JUST WANT TO CONVINCE THOSE PEOPLE THAT NOT ONLY DOES HE NEED TO GO, BUT I'M THE RIGHT MAN FOR THE JOB.

>> ALL RIGHT.

ROSAL PARK MAYOR.

>> THANKS FOR HAVING ME.

>> AND THAT'S CHAT BOX FOR THIS EVENING.

YOU CAN FOLLOW ME ON TWITTER AT DAVID CRUISE NJ AND GET A FIRST LOOK AT CHAT BOX AND REPORTERS ROUND TABLE ALONG WITH OTHER FRESH CONTENT EVERY DAY WHEN YOU SUBSCRIBE TO THE YOUTUBE CHANNEL.

FROM ALL THE CREW HERE, THANKS FOR WATCHING.

WE'LL SEE YOU NEXT WEEK.

>>> MAJOR FUNDING FOR CHAT BOX WITH DAVID CRUISE IS PROVIDED BY THE MEMBERS OF THE NEW JERSEY EDUCATION ASSOCIATION, MAKING PUBLIC SCHOOLS GREAT FOR EVERY CHILD, NJM INSURANCE GROUP, SERVING THE INSURANCE NEEDS OF NEW JERSEY RESIDENTS AND BUSINESSES FOR MORE THAN 100 YEARS.

PROMOTIONAL SUPPORT IS PROVIDED BY INSIDER NJ, A POLITICAL INTELLIGENCE NETWORK.

INSIDER NJ IS COMMITTED TO GIVE SERIOUS POLITICAL PLAYERS AN INTERACTIVE FORUM FOR IDEAS, DISCUSSION, AND INCITE.

ONLINE AT INSIDER NJ.COM.