Democrats in the New Jersey Legislature are proposing dueling alternatives to Gov. Chris Christie’s income tax cut plan.
Senate President Steve Sweeney and Assembly Speaker Sheila Oliver have competing proposals to allow residents earnings less than $250,000 to use a property tax credit to reduce their income tax.
Sweeney’s proposal would limit that credit to $1,000.
“We want to get the money, as most money as we possibly can, in the hands of the people that need it the most,” said Sweeney, D-Gloucester. “Understand something. When you give people on the lower income scales money, they spend it and that helps the economy.”
The plan from Oliver, D-Essex, would double the tax credit to $200,000 and help pay for it by increasing the income tax on millionaires.
Christie has repeatedly said he will veto any tax increase.