Reuters) - New Jersey politicians are due to battle on Monday over whether to slap a tax on millionaires or cut services for low-income senior citizens and the disabled
The clash in the state legislature is part of a wider battle over how to erase a $10.7 billion budget deficit and is emblematic of the decisions facing states across America whose budget deficits have soared during the recession.
Democrats want to re-impose a one-year tax on millionaires that has been vetoed by Republican Governor Chris Christie. The 10.75 percent tax on income above $1 million would hit 16,000 people, some of them likely to work as financial professionals just across the Hudson River in New York.
Both houses of the legislature, which are controlled by Democrats, previously approved the tax in May but it was immediately vetoed by Christie, who has pledged not to raise taxes.
The tax would raise $637 million that the state would use to fund rebate checks of up to $1,295 for some 600,000 senior citizens who would otherwise face steep increases in their property taxes during fiscal 2011.
According to the nonpartisan Office of Legislative Services, a retired couple living on a fixed income of $40,000 would see an increase of $1,320 in taxes under the governor's plan while a family making $1.2 million would receive a tax cut of $11,598.
"Governor Christie's heartless vetoes denied property tax relief to senior citizens struggling to make ends meet," Assembly Majority Leader Joseph Cryan said in a statement.
This isn't very karmic of me, but not enough bad stuff can happen to Chris Christie.
Seriously.
I like the label for this one.
ReplyDeleteTo change the subject for a moment . . . what do people think about the ultimate fate of unhired ATRs?
ReplyDeleteThey will eventually be let go. I'm sure Bloomberg and Klein will be able to work it somehow whith the new teacher accountability law.
ReplyDeleteEsteban, the title really does sum up Christie's policies.
ReplyDeleteAnon, dunno what to say other than I expect the UFT to sell them down the river before September and declare it a "great deal" that "scrapes the skies".
The above quotes come from Leo Casey talking about the odious '05 contract.
Reality based, great blog. You hit it on the head regarding this frightening chapter of American history.
ReplyDeleteBack to the ATRs, you think that Mulgrew will make like Pontius Pilate and offer up the ATRs in a new contract vote? He'll allow the teachers to vote on ATRs in a new contract?
I wonder how the younger, or less paid staff would vote on new contractual ATR rules? Is the UFT truthful with their current official statement "that they will never give up the ATRs?"
I've been polling a lot of people lately. One teacher yesterday thought that the "ATRs will never get fired because that is when the UFT will strike". Most vets feel that the ATRs will have to be granfathered in.