Sweeney delivers Christie new gas tax plan to end N.J. road project shutdown
TRENTON — Gov. Chris Christie and Senate President Stephen Sweeney met privately Tuesday in an attempt to broker a deal to fund transportation projects and bring an end to a statewide construction freeze. Sweeney presented Christie with a new proposal for replenishing the now-expired and soon-to-be-broke Transportation Trust Fund, according to a spokesman for the governor.…
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The story reads
“..Shortly before the trust fund was set to expire at the end of June, the Senate and Assembly were expected to vote on a plan to offset that tax hike with the elimination of the estate tax, a reduction in retirement income taxes, an increase in a tax credit for the working poor and a new tax deduction for charitable giving…”
Although not a fan of the $1.5 billion increase in the gas tax which would raise gas taxes to $2.2 billion per year, elimination of the estate tax or upping the ridiculous threshold of $675,000 and a major reduction in income taxes for seniors (or tax credit) sound good for NJ residents.
NJ is in competition with other states for middle and upper income seniors. NJ is being destroyed by Florida, North Caroline South Carolina, Arizona, Pennsylvania, Delaware due to excessive property taxes, state income taxes and estate taxes.
We all know good and productive NJ residents fleeing like refugees to other states due to the combination of confiscatory taxes.