Taxes

A former state budget director under both major political parties says the state should raise taxes now and slash pension contributions rather than borrow billions of dollars to close a huge coronavirus-created deficit.

“In the highest taxed state in America, New Jersey Democrats found a way to pile on more,” said Republican Party state chairman Doug Steinhardt.

For those who have begun collecting unemployment, what must be paid out in taxes relative to the assistance a laid-off or furloughed worker receives?

Brandon McKoy, president of New Jersey Policy Perspective, said New Jersey ended up with the slowest recovery in the nation after the Great Recession because it wouldn’t consider tax increases.

State revenues plunged by an unprecedented 60% in April, a $3.5B drop that reflects the economic impact of the business shutdowns ordered to deal with the coronavirus pandemic.

A former Republican state senator and the chairman of the Port Authority of New York and New Jersey believes that the people working on the front lines of the pandemic should be given a year-long tax holiday.

Gov. Phil Murphy is proposing a nearly $40.9B state spending plan for fiscal 2021, funded in part through more than $1B in tax and fee increases, including a $1.65 per pack hike on cigarettes.

Governor says he's optimistic a millionaires tax will eventually pass because polls show its popular and the money would fund programs helping the middle class.

Do you think New Jersey taxes are too high? One Garden State lawmaker believes the answer is yes and is launching an effort to fight what he sees as a never-ending cycle of increasing state taxes and fees.

Pumpkins that are used in food preparation are not subject to the state’s 6.25% sales tax, but decorations are.