The legacy of New Jersey’s last Republican governor continues to wash away, Save Jerseyans.
In April, Trenton quietly killed the Christie property tax cap which – while not stopping the growth of property taxes altogether – dramatically slowed the rate of their growth.
Next on the chopping block? The reduction of the sales tax from 7% to 6.625% which was designed to offset then-Governor Christie’s 2016 gas tax hike to fund the Transportation Trust Fund along with the elimination of the estate tax.
This week (Tuesday to be precise), N.J. Senate Budget Chairman Paul Sarlo pitched increasing raising the sales tax back to 7% as “more stable than the corporation business tax on the higher earning income companies, which could vary from year to year,” the current course of action favored by the Murphy Administration.
Governor Murphy’s business tax hike isn’t supposed to fix the roads or bridges; the revenue is to be redirected to New Jersey Transit.
Hiking the New Jersey sales tax back to pre-2016 compromise levels would cost New Jerseyans hundreds of extra dollars per year at a time when inflation is already soaring.
