Archive for Tag: taxes

At Assembly TTF hearing, Republicans demand safer roads, lower commuter costs

TRENTON, N.J. – When voting against a bill Thursday to raise the gas tax, establish a fee on electric vehicles and reauthorize a fund that pays for transportation infrastructure projects, Republicans on the Assembly Transportation Committee cited concerns for current road safety, rising costs due to inflation, financial troubles...

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DePhillips: Murphy serves up corporate business tax hike lite to satisfy appetite for spending

TRENTON, N.J. – Assemblyman Christopher DePhillips denounced Gov. Phil Murphy’s rebranded corporate surtax, announced as a transit fee in Tuesday’s budget message, and said applying it to higher earning businesses will still have devastating consequences for the state’s economy. “Make no mistake, this so-called transit fee is the corporate...

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Assembly GOP leaders talk taxes, spending and Murphy’s upcoming budget

TRENTON, N.J. – Assembly Republican Leader John DiMaio and Conference Leader Christopher DePhillips denounced balancing the state budget through tax and fare hikes in advance of Gov. Phil Murphy’s seventh budget message on Thursday. A budget deficit, shrinking tax revenue, inflation and a loss of federal aid has Democrats...

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Dunn pushes to enhance state child tax credit following vote in Washington

TRENTON, N.J. – A bill to gradually increase the refundable cap on the federal child tax credit to $2,000 passed the House on Wednesday, and now Assemblywoman Aura Dunn wants New Jersey to follow suit. “Both parties in Washington recognized the need to enhance the federal tax credit to...

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DePhillips denounces Dems’ plan to extend corporate tax surcharge

TRENTON, N.J. – The top Democrat in the Senate last week suggested extending a corporate surtax during the lame duck session to fund NJ Transit, which Assemblyman Christopher DePhillips called predictable, but devastating for New Jersey’s economy. DePhillips, a longtime sponsor of legislation to cut the corporate business tax,...

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Murphy’s corporate business tax surcharge sunset is not a budget tax cut, says DePhillips

TRENTON, N.J. – Assemblyman Christopher DePhillips is challenging Gov. Phil Murphy’s misleading claims that his fiscal year 2024 budget proposal cuts taxes by allowing the corporate business tax surcharge to sunset. “Governor Murphy is taking a victory lap for following the law to drop the surcharge on corporations at...

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New Jersey’s dead-last business ranking demands legislative fix, says DePhillips

TRENTON, N.J. – For the sixth year in a row, the Tax Foundation ranked New Jersey last for overall business tax climate in their 2023 report –an annual index that shows how well states are structuring their tax systems. Assemblyman Christopher DePhillips, a longtime advocate for corporate tax reform,...

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Video: Why is NJ so damn expensive? Murphy administration making more residents low-income

TRENTON, N.J. – Assembly Republicans explain how the cost of living increases under Gov. Phil Murphy are making more New Jersey residents low-income in the latest episode of “<Three” released Wednesday. Despite touting a ‘stronger and fairer New Jersey,’ 80% of the taxes Murphy has raised since taking office...

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