N.J. Republicans release their version of a state economic stimulus plan
Wednesday, June 17th, 2009
By: Fit Staff
mcampbell@whyy.org
By Phil Gregory
A group of Republican New Jersey lawmakers announced a 12-point economic stimulus plan they say would help the Garden State emerge from the recession.
Among the Republicans proposals: a sales tax exemption for the purchase of hybrid vehicles and energy efficient appliances, and a tax deduction for putting money into a savings account. Senator Jennifer Beck says they also want to provide a tax credit of up to 75-hundred dollars for first time home buyers
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Beck: When a first time homeowner purchases that first home it allows for transactions to happen throughout the real estate market and is indeed a significant economic engine for the state of New Jersey.
The Republican lawmakers also are calling for a 1 percent reduction in the corporate business tax which they say may encourage job growth and lead to higher revenue.