The fiscal health of New Jersey is steadily -- if not rapidly – failing. Governor Jon Corzine’s remedy comes in the form of record-shattering $30.9 billion state budget that is likely to render a terminal diagnosis for New Jersey’s working and middle class citizens. 

Corzine’s proposed budget is a pill too great to swallow.  Recovery requires much more than drastic tax hikes.  A long-term remedy requires sound, strategic initiatives that will preserve New Jersey’s legacy and position our state for significant improvement and growth in the coming years.

 As a state, we’ve already said good-bye to countless neighbors, many of whom have relocated to Pennsylvania for refuge from the pending tax hikes. It is becoming increasingly difficult for families and businesses alike to prosper in NJ.

Sadly, if the proposed budget is approved, NJ residents can expect: 

• Increased state-spending by nearly $2.8 billion, representing an increase of 9% in just one year.

• Freezes or cuts to school districts and municipalities (which translates to a dramatic property tax increase).

• More than $2 billion in new taxes and fees including but not limited to:

·        Sales tax increase of 1% as well as an expansion of the sales tax base to include a host of additional items and services such as landscaping, health club memberships, music and video downloads, electronic data access, shipping and handling, tanning salons, carpet cleaning, and more;

·        Property tax increases between 7-8% despite the rise of property taxes nearly 30% over the past four years;

·        4-cent per 1,000 gallon water tax;

·        5-cent per gallon beer tax;

·        10-cent per gallon tax on wine or liquor;

·        35-cent per pack increase in the cigarette tax;

·        2.5% corporation business tax surcharge;

·        A new car tax on mid-sized and luxury cars that cost over $45,000 and cars that get less than 15 miles per gallon of gasoline;

·        A commercial property transfer tax; and

·        An increase of $2 per prescription co-pay (up to $10/month) for Medicaid and dual-eligible recipients.

 “Your Republican leadership is actively seeking ways to cut spending, eliminate government waste and end the tax increases.  We have already given Governor Corzine $600 million in suggested cuts for the coming fiscal year and $450 million in cuts for the current budget,” said Assemblyman Steve Corodemus, (R- Monmouth County, district 11).

 Please attend and visit us frequently at www.njassemblyrepublicans.com for budget updates.