New Jersey residents get ‘significant’ new tax cuts, governor says

New Jersey Gov. Phil Murphy said residents can expect “substantial tax cuts” even after the state passed a $2 billion property tax refund program last year.

In an interview with Bloomberg Television’s “Balance of Power,” Murphy said, “At this point, we’ve already implemented 14 or 15 tax cuts for the middle class, seniors, and families, and we’re not going to pardon. No,’ he said. with David Westin. “We are considering other tax cuts.”

The 65-year-old Democrat, who took office in January 2018 and served as a senior director at Goldman Sachs Group Inc. for a second term, has helped revive New Jersey’s economy and pay the highest property taxes in the nation. promised to rescue

Last year, Murphy and the Democratic-led Congress approved a program to give homeowners and renters tax-reduced checks. The program, called Anchor, has been scaled back over the years due to budget constraints, replacing Homestead’s rebate program which greatly expanded the pool of eligible people.

In an interview, Murphy also expressed optimism about the progress of Gateway, a multi-billion dollar program for a new railroad tunnel between New York and New Jersey. He said he just received a $92 million federal grant.

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