TRENTON, N.J. –Assembly Republican BettyLou DeCroce pressured Democrats to increase a proposed income-tax deduction for contributions to NJBEST, the state-sponsored college savings account.
For two years, Assemblywoman DeCroce and Assemblymen Anthony M. Bucco and Ned Thomson have sponsored bill A1405 that would allow a deduction up to $15,000 for married couples and individuals making up to a certain income limit.
“College costs are a great concern of everyone. I believe the taxpayers need greater support than this bill provides,” said DeCroce (R-Morris). “College costs are going to increase and we all know that. I would like the caucus to consider an amendment and take into consideration the $15,000 deduction.”
At the last voting session, Democrats rejected the amendment 50-26. They proceeded with their legislation that limits the deduction to $5,000 for families with unlimited income.