The proposal would reduce tax rates, simplify many provisions, and convert the taxation of business income into a destination-based cash-flow consumption tax.
Phil Murphy has long touted his progressive agenda by saying he wants New Jersey to be an East Coast version of California. That leaves Murphy facing a choice—either scale back his plans or raise taxes, the report said. This comes as legislative leaders in his own party have said the state needs to look at reducing, not increasing, state spending and have vowed to resist further tax increases.
Murphy has shown no inclination to bring his plans into line with the financial realities of a state that already bears one of the highest tax burdens in the nation.
Murphy, last month, also approved raising the gas tax an additional 4. Chris Christie, who resisted further raising the gas tax. Murphy, however, is a strong supporter of the unions and unlikely to go along with efforts to bring those benefits into line with those of private-sector employees.
Quote of the Day: Phil Murphy said he was banking on strong economic growth going forward to raise the money he needs to fulfill a long list of progressive promises.
The Record Read more N. Phil Murphy has vetoed more bills in his first eight months in office than the last five elected governors combined, rejecting legislation over both substantial issues and minor concerns, according to a POLITICO analysis of nearly three decades of gubernatorial actions.
Asbury Park Press Read more Sweeney: Then you need to head to Ocean County. Inquirer Read more Murphy taps ex-municipal judge as acting prosecutor in one of N.
Some of the contests — particularly the Senate seat at the top of the ticket — have already gotten quite nasty. NJSpotlight Read more Express Toll Lanes Could Give NJ Motorists a Chance to Steer Clear of Congestion The idea of adding express toll lanes to busy highways like I and I has been discussed before, but policymakers are starting to get more serious about giving motorists the chance to pay a premium to breeze through chokepoints.
NJSpotlight Read more Cost of incarceration: South Jersey jails by the numbers In South Jersey, two counties are deciding to build new jails while another is choosing to maintain its current facility.Later in the month, the New York Times reported that the administration was considering a unilateral move that would cut taxes, mainly for rich people, by $ billion.
The White House was. Oct 03, · At the heart of President Donald Trump's success story is this idea: He took a small amount of money -- in the form of a loan from his father, Fred -- and turned it into billions of dollars.
ANALYSIS: Lawmakers leave without a deal on taxes and budget. By Anne Galloway.
May 13 June 28, Scott again this year has been steadfast in keeping his no new taxes or fee pledge. Analysis: NJ economic growth won’t sustain Murphy’s agenda, adding pressure to raise taxes Fresh off striking a budget deal that included $ billion in new taxes, Gov. Phil Murphy said he.
According to an MBTA analysis, a proposed expansion of South Station would cost $ billion, and a North-South rail link, which Dukakis has long pushed for, is estimated between $12 and $21 billion.
During Baker’s campaign, he touted a "no new taxes" platform, but Dukakis says new tax revenue is unavoidable with the proposed South Station.
The House GOP tax plan would consolidate the regular standard deduction, additional standard deductions for age or blindness, and the personal exemption for tax filers into new standard deduction amounts of $12, for single filers, $18, for head of household filers, and $24, for joint filers.