As procrastinators sent in their federal and state income tax returns Tuesday, a New Jersey lawmaker called for enactment of some tax cuts.
One of the bills sponsored by Republican lawmakers would phase out the state’s inheritance tax over a five-year period — even though that might result in a drop in state revenue.
“So people don’t leave out state and move to Florida where they don’t have an inheritance tax,” said Assembly Minority Leader Jon Bramnick. “The numbers show that it’s not lot of money. I can’t give you the exact numbers, but I can tell you that it’s not that burdensome, and I think the governor would support it.”
Other measures proposed by the Republicans would cut the state sales tax from 7 percent to 6 percent and would provide a property tax credit of up to $1,000.
“It is part of a message to business and to consumers that New Jersey is the place to shop, New Jersey is the place to live, and New Jersey is the place to open your business,” he said.
The legislation would make New Jersey more competitive with other states, said Bramnick, R-Union. But he acknowledged it will be difficult to convince the Democratic majority in the legislature to pass those bills.