Gov. vetoes Earned Income Tax Credit

Gov. Chris Christie has issued a full veto of the Earned Income Tax credit, a program he had pledged to

Gov. Chris Christie has issued a full veto of the Earned Income Tax credit, a program he had pledged to restore during his February budget address.

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In his veto message, the governor said he continues to support the plan, but his support was contingent on the inclusion of a tax cut.

“I support the concept of this bill and indeed proposed an increase in the EITC as part of my February 2012 proposal for a balanced budget,” Christie said in his veto message.  “That budget proposal, which was not acted upon by the legislative mahority, would have also delivered all taxpayers in the state, the tax relief they deserve.”

Democrats had proposed restoring the EITC to 25 percent of the Federal Earned Income Tax Credit amount.  The budget had allocated $50 million for that purpose.  Christie had favored restoring the credit over a two year period.

Gov. vetoes Earned Income Tax Credit