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New Jersey Democrats propose tax breaks; Republicans say proposal offers no significant relief

by Todd DeFeo, The Center Square contributor
| June 22, 2021 05:00 PM
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New Jersey Democrats unveiled a fiscal 2022 budget agreement on Monday, one they say provides middle-class tax rebates and property tax relief.
However, Republicans say the agreement doesn’t provide substantive tax relief and fails to recognize the state’s precarious financial standing.
The announced agreement includes $319 million for $500 tax rebates for more than 760,000 New Jersey families, which proponents say are possible because of the state’s previously enacted “Millionaires Tax.”
The agreement also includes updating the base year of the Homestead Benefit to 2017 property tax information, at a cost of $80 million, and it would expand the Veterans Property Tax Deduction to include peacetime veterans, which would cost $15 million. Additionally, it would expand the Child and Dependent Care Credit (CDCC) to families making up to $ ....

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A very opaque budget

A very opaque budget
politico.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from politico.com Daily Mail and Mail on Sunday newspapers.

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Murphy approves final bill in $100M business COVID-relief package

Murphy approves final bill in $100M business COVID-relief package
April 14, 2021
8:15 am
Gov. Phil Murphy on April 13 approved the last piece of legislation in a $100 million business COVID-relief package – a bill allocating $10 million to support child care services across the state.
The latest infusion of cash is seen by proponents as a key measure in helping working parents transition back to the workplace.
“Without the commitment of child care providers so many of our frontline essential workers would have been unable to go to work filling so many important needs,” reads a April 13 statement from Acting Human Services Commissioner Sarah Adelman. ....

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Murphy greenlights $15M small business COVID relief

The state assistance is meant to help employers that have taken financial hits due to the slew of business closures and other public health restrictions amid the pandemic. ....

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$35M in COVID relief grants cleared for restaurants, bars

$35M in COVID relief grants cleared for restaurants, bars
April 9, 2021
2:11 pm
Gov. Phil Murphy approved the creation of a $35 million grant to help keep bars, restaurants and other eateries afloat that have been pummeled by COVID-19 and in-person restrictions.
Between March and the first half of June last year, restaurants were open only for take-out and delivery, with sit-down dining – both in- and outdoor – closed the entire time.
Establishments were allowed to reopen for outdoor dining only beginning last June, and finally allowed to resume indoor dining at 25% capacity beginning Labor Day weekend last year. Indoor capacity expanded to 35% just before Super Bowl weekend, and then to 50% last month. ....

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