Every Day is Tax Day, Says NJ Lawmaker [AUDIO]
Tuesday was Tax Day, the deadline for filing income tax returns, but the top Republican in the state Assembly said every day is Tax Day in the high tax environment of New Jersey. He urged the legislature to get to work on a trio of tax-cutting bills.
"It is time now for the state legislature to begin the process to roll back high taxes," said Assembly GOP Leader Jon Bramnick (R-Westfield). "We need to give back money to property taxpayers through a bill we call the New Jersey Direct Property Tax Relief Plan."
The property tax relief bill would offer up to a $1,000 deduction on property tax bills depending on a person's income. Homeowners with incomes up to $400,000 would be eligible. The measure also includes higher credits for renters.
"We also need to reduce the sales and use tax from 7 to 6 percent," Bramnick said. "We need to send a new message so April 15 can become a holiday, as opposed to a painful day."
Another bill supported and co-sponsored by Bramnick would phase out the New Jersey Estate Tax over five years. Under the legislation, the amount of estate tax calculated as due under the existing structure will be reduced by 20 percent each year until it no longer exists. Bramnick knows that the argument against cutting taxes is that the state will lose revenue.
"The only way to increase revenues is to bring businesses and jobs to the state of New Jersey," Bramnick said.