Tax-cut tradeoffs might make for good politics but they make for bad policy.
For a state already so deep in a hole, it’s astonishing how eager policymakers are to keep digging the hole even deeper.
Proposal would cost the state about $17 billion over the next 10 years as the price for finally enacting a gas tax increase for essential transportation capital funding over the next 8 years.
Pairing a tax increase that will be most felt by working-class and low-income New Jerseyans with a major tax cut that will deliver all of its benefit to the state’s wealthiest heirs isn’t tax fairness at all.
Legislation would restore financial integrity to the “net benefits test,” ensure fair wages, prevent extra rewards for some known federal tax dodgers and ensure comprehensive review and analysis.