TRENTON – A pair of Republican Assembly lawmakers introduced a new version of a tax relief proposal that Gov. Chris Christie has been hammering at Democrats to return to the Statehouse and adopt.
Assemblywoman Donna Simon, (R-16), Flemington, and Assemblyman Chris Brown, (R-2), Northfield, sponsored a bill this week that would create a property tax credit of up to $1,000 against the gross income tax for the first $10,000 of property taxes paid by homeowners making less than $400,000 annually. It would be phased in over four years, according to Assembly Republicans.
The plan mirrors the language of the governor’s conditional veto of the Democrat-controlled Legislature’s recent passage of a millionaire’s tax, which Christie reworked into a tax relief plan. He has been hammering at Democrats to “get the hell off the beach” and pass the new bill during his beach town halls.
Now, Simon and Brown are sponsoring the tax relief plan – which Democrats have said they will not sign off on unless the revenues are there to pay for it.
“We must continue to fuel the engine that is turning New Jersey’s economy around – consumer confidence and optimism from the business community who create jobs,” Simon said in a statement.
The lawmakers’ proposal would also increase the gross income tax credit for those who rent from $50 to $250, and would increase the New Jersey Earned Income Tax Credit from 20 percent to 25 percent of the federal earned income tax credit.
“New Jerseyans are overtaxed, they need relief now and we shouldn’t be telling them to be patient,” stated Brown.
“There are 16 Republican votes in the Senate and 32 Republican votes in the Assembly ready to support meaningful property tax relief,” continued Brown. “Can’t the Majority produce five Democratic senators and nine Assembly member votes to pass tax relief for the middle class?”