NJ Assembly Passes Tax Increases

The New Jersey Assembly has passed tax increases on liquor, cigarettes, businesses and the wealthy. Votes on $2.8 billion in revenue raisers are required in the Assembly then Senate before lawmakers can consider the $29 billion state budget Thursday. The spending plan includes property tax relief for 1.1 million seniors and low-income residents. The last-minute relief was possible because a tax amnesty program collected nearly $500 million from corporations and individuals. About half the residents who got rebates last year will see checks this fall. Those making more than $75,000 and renters will lose their rebates. Assembly Republicans objected to every tax increase bill. AP.

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