Taxes

The new state budget includes $2 billion for property tax rebates for around 2.1 million households, which is a marked increase from recent years though not a record.

New Jersey has created a new child tax credit of up to $500 per child under 6. It might not be paid until 2024, but sponsors intend to speed that up by a year.

The state collected $3.282 billion in revenue in May – a nearly 39% plunge, or $2.072 billion.

Taxes that businesses pay into the unemployment fund are due to increase in July and again next summer, but the Legislature might take steps to ease that financial bite.

The tax filing deadline was Monday – but people who neglected to claim their child tax credit or earned income tax credit can still file amended or late returns to get the money for which they’re eligible.

A Senate committee Thursday advanced a package of consumer-protection proposals, including restrictions on tax refund anticipation checks that critics call exploitative of people with low incomes.

The credit itself is continuing in 2022, but will only come back to families once they file taxes at the beginning of 2023; the same goes for the current tax season and the other half of last year's credit that wasn't paid out monthly.

Assemblywoman Gabriela Mosquera, D-Gloucester, said changes to the benefit can help parents transitioning back to work.

The second and final gubernatorial debate Tuesday night hit the typical wide span of topics – COVID, school aid, marijuana, diversity, affordable housing and more.

“We will not. I pledge to not raise taxes,” Murphy said. “At any time in the next four years. But I’m not making news tonight. I’ve been saying this for the past year. The answer is I pledge to not raise taxes.”