UPDATED with response from NJPP at the end.
Governor Chris Christie will deliver his budget to the state legislature today at 2 p.m., and he is expected to cut state income taxes by 10 percent and to increase school budget funding by $200 million.
You can listen to his address live on NJTV or on the governor’s live streaming channel. (If you go there before the address, you can hear a continuous loop of Christie audio, including his famous instruction to New Jerseyans to “get the hell off the beach” ahead of Hurricane Irene.)
After his address, the governor is encouraging citizens to reach out to him on Twitter at @GovChristie the hashtag #jerseycomeback. The progressive research group NJPP will also come out with its own statement afterwards.
NJ Spotlight says that Christie’s proposed across-the-board tax cut is drawing fire from NJ Democrats, who say it favors the rich.
Democrats quickly pounced on the proposal as a tax cut for the rich, with Assembly Majority Leader Lou Greenwald (D-Camden) pointing out that millionaires could go on an exotic vacation with their $7,265 tax cut, while a family of four making $50,000 couldn’t buy a cart of groceries with the $80.50 it would receive.
What would you do with a 10 percent state income tax cut?
NJPP president Deborah Howlett has just issued this response, saying that the tax cut is bad policy.
The recession blew a $2.5 billion hole in the state budget that has never been filled. Now, the governor wants to dig that hole even deeper with an irresponsible gimmick that only benefits the wealthiest 1 percent.
Proposing an income tax cut might be good politics, but it’s bad policy for most New Jerseyans.
For most of us, the governor’s proposed income tax cut will amount to $2 a week, which will be quickly eaten up by rising property taxes. Meanwhile, the top 1 percent will reap nearly 40 percent of the savings.
The state’s tab for this tax cut will ultimately be $1.1 billion, and that money has to come from somewhere. While the governor seems to think it will come from his pie-in-the-sky revenue projections, it’s hard to imagine the state’s stagnant economy will turn around quite so quickly. At the end of the day, it will be New Jersey’s future generations footing the bill.
I will use it to pay for a portion of my ever increasing real estate taxes.
Use it plan a gay wedding in New York State….geeze you libs really are zany.
Put it in my California or Bust fund.
Let’s see — a couple of years ago we got a 20% rebate on our property taxes which worked out to around $2000. This past quarter I got about a $275 deduction in my property taxes which was about 2.5%. 10% of my NJ Taxes works out to about $500, so the way I see it I am out a little over $1200. I do not look at this as progress when Christie refuses to tax the fabulously wealthy lest they don’t donate or vote for him.
I guess I will use the 10% cut to cover my recently doubled toll charges. Which Chris don’t pay either.
Lou Greenwald is a 1%’er , if he wants to pay more he can send a check to Trenton for as much as he wants. Lou, let me get my small amount and mind your own bee’s wax, after all it’s my money.
As for Deborah Howlett, how much did she make working for Corzine, and what is she making as President of NJPP?
Her “For most of us, the governor’s proposed income tax cut will amount to $2 a week” means she is earning about $46,000, I guess she was using the “Royal US”
I already gave the 10% plus to my accountant to pay for my “random” audit by the state of NJ. Screw Christie and his phoney baloney budgeting.
P.s. He’s a meat puppet for the country club crowd.
Ask me what I really think.
Cc’s budget assumes a $2.2 billion increase in state revenue. Seems like a generous forecast.
And it doesn’t address the 20% increase in property taxes since he took office.