Increasing New Jersey’s Earned Income Tax Credit (EITC) to 30 percent from 20 percent of the federal EITC would provide over half a million New Jersey working families with a much-needed bump in their take-home pay while giving the state’s economy a boost.
The Supreme Court was right to recognize that health reform provides tax credits to help consumers in all states be able to afford quality health coverage. Now it’s time for people on both sides of the aisle to accept that the law is working and take steps to improve and fully implement it.
With hundreds of thousands of New Jersey families still struggling from the economic downturn, restoring the state’s Earned Income Tax Credit (EITC) is critical this year.
A case that will soon be decided by the U.S. Supreme Court could result in the loss of over a half billion dollars in federal tax credits that 172,000 New Jerseyans use to make health insurance affordable, a major increase in premiums for everyone in the individual insurance market and the loss of insurance for over 200,000 residents.
This bill would begin to rein in excessive health care costs and provide some relief to consumers.
In a state budget message filled with gloomy overtones, the proposed spending plan for health care and other services that help New Jerseyans make ends meet is a rare bright spot. But don’t be fooled.
A case coming before the U.S. Supreme Court this week could disrupt the nation’s health care system and result in the loss of insurance for over 200,000 low-income and middle-class New Jerseyans.
Securing full federal funding via higher enrollments is an ambitious but achievable goal. In fact, New Jersey is more than halfway there.
Assembly members had the chance to assert that maintaining nutritional benefits for struggling seniors, the disabled and children trumps short-term political considerations. While most members said “yes” there were not enough of them to override the governor’s veto.
The inability of the state to establish a modern eligibility determination system has disturbing implications for federal funding, the state budget, and struggling low-income families.