We don’t know if the bookies ran bets on the chances that Obamacare’s mandate would be upheld, but, if they did, no one was betting on Chief Justice Roberts to cast the deciding vote.
The governor has a similar opportunity to act on the merits of the Earned Income Tax Credit and surprise us by reversing the tax hike on a half-million deserving families.
The governor must act by Saturday on the Democratic version of the FY 2013 budget and associated legislation.
With a budget that varies so slightly from his own, he is, nevertheless, expected to use his line-item veto pen – even if more lightly than he did last year.
No surprise that he will veto absolutely for the third time the bill to increase tax rates on households with $1 million or more in income.
Most would be surprised if he accepted the full and immediate restoration of the EITC to 25 percent of the federal level and signed the accompanying bill that restores the credit. Signing this bill would roll back the tax increase that the governor imposed – with Democratic cooperation – in his 2010 budget.
The governor included the increase in EITC in his 2013 budget message and was reportedly prepared to accelerate payments to this year as part of the compromise with Senate President Sweeney.
Hopefully, the governor will not hold EITC-eligible families hostage in an attempt to force Democrats to approve his much broader and more expensive income tax reduction.
Governor, surprise us. Continue bipartisan support of the EITC, and help these 500,000 families now – not in 2014.
Help us help New Jersey's working families. Make a tax-deductible donation today.