Mikie Sherrill was inaugurated Jan. 20 as New Jersey’s 57th governor during a ceremony at the New Jersey Performing Arts Center in Newark, becoming the first Democratic woman to hold the state’s highest office. Lt. Governor-elect Dale Caldwell was also sworn in.
Sherrill, a former Navy helicopter pilot and four-term Democratic Party member of the U.S House of Representatives, defeated Republican Jack Ciattarelli by a surprising double-digit margin driven by high voter turnout stoked by anti-President Trump sentiment. The victory marked the first time someone from either party had won the governor’s three consecutive times since 1961. Phil Murphy, the outgoing governor, became the first Democrat to serve two full terms since Brendan Byrne (1974-1982).
Sherrill made affordability the centerpiece of her campaign and she said she plans to address high property taxes, which, by percentage of personal income, are the highest in the country. In a recent Rutgers-Eagleton poll, New Jerseyans named high taxes as the most important issue.
“What makes us special is that sometimes, in some moments, the impossible is possible here in New Jersey,” Sherrill said before a crowd chilled by January cold. “So we are unafraid to take on tough challenges. We never assume we’ve lost the fight before we enter the ring.”
Among the affordability issues Sherrill faces are escalating electricity bills, which shot up 20% beginning last June. “I want you to know that I will be fighting for you,” she said. “And I hope, New Jersey, you remember me when you open your electric bill and it hasn’t gone up another 20 percent. I can promise you, it won’t be because I waste your money on a ballroom at Drumthwacket. I am going to spend every minute trying to make New Jersey more affordable and open doors to opportunity across our state.”
Sherrill said she is going to sign a series of executive orders to declare a State of Emergency on Utility Costs. She said she would issue an executive order giving the New Jersey Board of Public Utilities the authority to pause new utility requests for additional rate increases, and will freeze rate hikes. Sherrill also said she will issue an executive order directing the Board of Public Utilities to open solicitations for new solar and storage power generation, to modernize gas and nuclear generation.
“This is just the beginning,” she said. “We are going to take on the affordability crisis, and we are going to shake up the status quo.”
Sherrill said during the campaign she had heard from New Jersey residents on other affordability issues such as health care, college tuition, child care, rent and mortgage payments.
“These concerns are not abstract. They are not ideological. They are an everyday reality for the people of this state.”
NJBIA President and CEO Michele Siekerka said in a statement that “Throughout her campaign, and even preceding it during her time in Congress, Governor Sherrill has shown a much-needed willingness to work with the business community and to give our job creators a more even playing field from which to compete. We have been heartened by her transition team’s engagement with NJBIA and the business community since the election in November.
“While we know we will not always agree on every issue, having an open dialogue with this administration and a mutual understanding of the importance of business to New Jersey’s economy is a great foundation from which to build on. It also makes for better governance.
“We will continue to urge for top-line priorities which include a reduction of business burdens and red tape in New Jersey, a vision that Gov. Sherrill shares, as well as the need for a balance of energy sources, including natural gas and nuclear, to bring more affordability and reliability to our businesses and residents.”
Sherrill has a tall task in front of her regarding changing the affordability conditions for small business in New Jersey. According to personal-finance company WalletHub’s 2026’s “Best & Worst States to Start a Business” report, New Jersey ranks fifth-worst for small business.
New Jersey has the highest top marginal corporate tax rate in the nation at 11.5%. The top income tax rate for both single filers and married couples filing jointly with income above $1 million is 10.75%, which affects business owners and high‑earning employees.
The state’s unemployment rate is 5.4%, almost a full percentage point higher than the national average.
