by Todd DeFeo, The Center Square contributor | June 22, 2021 05:00 PM Print this article
New Jersey Democrats unveiled a fiscal 2022 budget agreement on Monday, one they say provides middle-class tax rebates and property tax relief.
However, Republicans say the agreement doesn’t provide substantive tax relief and fails to recognize the state’s precarious financial standing.
The announced agreement includes $319 million for $500 tax rebates for more than 760,000 New Jersey families, which proponents say are possible because of the state’s previously enacted “Millionaires Tax.”
The agreement also includes updating the base year of the Homestead Benefit to 2017 property tax information, at a cost of $80 million, and it would expand the Veterans Property Tax Deduction to include peacetime veterans, which would cost $15 million. Additionally, it would expand the Child and Dependent Care Credit (CDCC) to families making up to $150,000, at a cost of
New Jersey’s baseline state revenues for fiscal 2021 will exceed $43.9 billion, nearly $4.1 billion higher than anticipated and well above the pre-pandemic peak of $38.3 billion during fiscal 2019, state officials said.
Oroho Calls on Murphy to Stop Rolling Over for New York in Interstate Tax Fight
By BRAD SCHNURE
Credits: provided
Says State and New Jersey Taxpayers Losing Billions Through Governor’s Inaction
Senator Steven Oroho (R-24) called for Governor Phil Murphy to stop giving in without a fight to New York tax officials who are stepping up enforcement to claim income tax payments they don’t deserve from New Jersey residents.
Sen. Steven Oroho called for Gov. Phil Murphy to stop giving in without a fight to New York tax officials who are stepping up enforcement to claim income tax payments they don’t deserve from New Jersey residents. (
Oroho: Why Is Murphy Opposed to Making Government More Efficient & Affordable? May 5, 2021, 8:01 pm | in
Oroho: Why Is Murphy Opposed to Making Government More Efficient & Affordable?
Governor Vetoes Bipartisan Bill Establishing “Government Efficiency and Regulatory Review Commission”
Senator Steven Oroho questioned why Governor Phil Murphy would veto bipartisan legislation (A-4810/S-441) designed to reduce bureaucratic red tape, improve government efficiency, and produce savings for taxpayers.
“Why is Governor Murphy opposed to making government more efficient and affordable?” Oroho (R-24) asked. “By vetoing this legislation, he’s essentially saying there’s no problem with excessive bureaucracy in New Jersey or government being too expensive. If he took the time to speak to actual taxpayers or anyone trying to do business in the state, he’d realize he’s dead wrong.”
Murphy seeks record $44.8 billion election-year N.J. budget
Elise Young, Bloomberg
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New Jersey Gov. Phil Murphy seeks a record $44.8 billion budget,a plan that includes one-time tax-relief payments to 760,000 households, broader eligibility for senior prescription and child-health programs, expanded free college, and down-payment assistance for first-time home buyers. Phil MurphyBloomberg photo by Angus Mordant
New Jersey Gov. Phil Murphy, D, proposed a record $44.8 billion in spending in his election-year budget, seeking no new taxes or major cuts while funding more assistance for middle-and low-income voters and the state s first full pension contribution in more than 25 years.
Many of Murphy s fiscal priorities will appeal to the public employee unions that helped get the Democrat elected in 2017. Now seeking a second term in November, Murphy is planning for one-time tax-relief payments to 760,000 households; broader eligibility for senior prescription an