Archive for Tag: indexing

VIDEO: Move aside Mr. Grinch, NJ has inflationary tax hikes

TRENTON, N.J. – Record-high inflation, New Jersey’s built-in income tax hikes, and a Democrat-controlled government combine to create a mean holiday Grinch. Consumers in New Jersey are feeling the extra squeeze this season, because Trenton Democrats have rejected calls to index income taxes to inflation, say Assembly Republicans. This...

Read More

IRS just raised tax brackets 7% for inflation, it’s time NJ do the same, says Munoz

TRENTON, N.J. – The Internal Revenue Service adjusted tax brackets for 2023 by about 7% in an attempt to counter rapid inflation, the IRS said in a statement on Tuesday. But state tax brackets haven’t changed since 1996. That could mean New Jersey workers whose wages haven’t kept pace...

Read More

Assembly GOP leaders put income, property tax cuts to a vote

TRENTON, N.J. – The Democrats’ support of a more affordable New Jersey was put to a vote on Thursday when Republican leaders pressed the Assembly majority to advance bills cutting income taxes and providing immediate property tax relief. The bills are part of the Assembly GOP’s proposals to combat...

Read More