Gov. Christie announces new tax cut plan

LITTLE FALLS - Gov. Chris Christie (R-N.J.) announced a plan today to cut worker payroll taxes by a staggering $190 million. Christie made the statement at a town hall meeting, after touring a Little Falls defense contractor. He will make the reduction in the Disability Insurance Tax. The administration also cut $57 million in Family Leave Insurance taxes earlier this year, and Christie says, with both taxes in effect, the average worker should see savings of about $100 per year. "Now that's not something to go and buy a new boat over," Christie said. "I understand, but what it is is the beginning of moving things in the other direction." The tax cut is scheduled to take effect Jan. 1, 2012.

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