Phil Murphy had proposed $1.2 billion in new taxes and fees for FY 2026, Save Jerseyans, on everything from bowling and laser tag to batting cages and mini golf.
Fortunately for the rest of us? The entire Assembly is on the ballot this year (even though Phil Murphy isn’t). NJ.com is reporting that legislative Democrats have pushed back on some of the craziest ideas as part of a tenantive deal between the Democrat-controlled legislature and the governor’s office, but this is New Jersey so there will be increases. There are ALWAYS increases.
What’s out: the so-called “fun” tax hikes on things like bowling and laser tag.
What’s in: the “sin” and “rich people” taxes…
- A 30-cent increase on cigarettes
- A tax hike for properties valued between $1 million and $2 million
- A 20% tax increase on sports betting and online gaming casino revenue
Of course, the climb down from Murphy’s dream list has more to do with self-preservation for the Dems who aren’t term-limited than anything else, and there is no such thing as a tax without broader consequences. Election year Democrats are betting that gamblers, smokers, and people who own nice homes aren’t sympathetic victims, but we all know that Trenton’s continuing inability to live within its means remains the proximate problem with this situation.
The ANCHOR payments will return with an associated price tag of $1 billion which will consume the benefit of the tax increases. Remember… this about vote-buying, not fealty to math or sound accounting!
July 1st is the deadline for the governor to sign the budget or send the state into a limited shutdown.
