Corzine doesn’t support holiday tax cuts

By: Phil Gregory

Don’t expect a tax holiday in New Jersey during the holiday season.

By: Phil Gregory
philgregorynews@gmail.com

Don’t expect a tax holiday in New Jersey during the holiday season.

Listen:
[audio: 091012pgholidaytax.mp3]

Around this time last year, Governor Corzine gave a chilly reception to a proposal by Republicans to stimulate the economy by cutting the state sales tax in half from Thanksgiving until after New Year’s Day. The Governor is not in favor of such a tax holiday this year either.

Corzine: Given that we’re struggling, struggling as a state to pay out property tax rebates to people of every quarter above $75,000, I’m not sure that that is the place that I would go.

Rather than a sales tax break for the holidays, Corzine says he’d prefer restoring property tax rebates to more New Jersey residents and purchasing more food for food banks. Considering the falloff in state revenues this year, the Governor has refused to rule out tax increases if re-elected to a second term.