Assembly GOP Leader Talking Tax Cut [AUDIO]
NEW JERSEY 101.5
Assembly GOP Leader Jon Bramnick feels that Governor Christie’s landslide victory sends a clear message that the people of the Garden State like what Christie stands for, and if that’s the case ,they must want the tax cut the governor’s been asking for.
Last year, Christie and State Sen. President Steve Sweeney reached a deal on legislation that would have provided a property tax relief credit through the gross income tax return, for all residential homeowners with incomes up to $400,000 in the amount of 10 percent of the first $10,000 in property taxes paid.
The tax cut never became a reality because some Democrats weren’t on board at first and later others, including Sweeney, balked because revenue collections were lagging and they felt the state couldn’t afford the cut.
“We need to make it clear that this is a place where we’re going to begin to lower taxes, not raises them,” said Bramnick. “Instead of raising taxes, we need to immediately begin to lower them and send that message out, not only to the people in this state, but those who would consider doing business in the State of New Jersey.”
Last year, the Assembly Democrats produced a property tax cut plan as well. It would have worked the same way as the Senate proposal, but would have provided a 20 percent savings and be partially funded by a millionaires tax increase.
Seniors would receive a 25 percent property tax cut under the proposal. That idea was dead on arrival because Christie has vetoed a millionaire’s tax hike before and vows to do it again.