Tax cut could be delayed six months

According to two Democratic sources, among the points being discussed in the Democratic caucuses is the possibility of delaying a

According to two Democratic sources, among the points being discussed in the Democratic caucuses is the possibility of delaying a potential tax cut for six months to gain a better perspective on the state’s economic situation.

Sign Up For Our Daily Newsletter

By clicking submit, you agree to our <a href="http://observermedia.com/terms">terms of service</a> and acknowledge we may use your information to send you emails, product samples, and promotions on this website and other properties. You can opt out anytime.

See all of our newsletters

The revenue to pay for the tax cut would be included in the budget the Democrats plan to introduce within the next week, but the legislation authorizing the tax cut would not be moved until later in the fiscal year.

According to one of the sources, at least some Democrats believe the move would pacify Gov. Chris Christie, who has said the tax cut must be included in the budget before he’ll sign it.

“It’s the more responsible way to handle it,” said one source.  “This way we can see where the revenues are at that point.”

But in a press conference announcing jobs numbers, Christie showed no signs of compromise as he chastised Democrats for “dithering” about whether to cut taxes. 

Whether any specific benchmarks would be tied to the tax cut remains open for discussion, said one source, as some Democrats are afraid of handcuffing themselves with parameters they’ll have to live with down the line.

 

Tax cut could be delayed six months