Residents fear possible New Jersey sales tax increase

(03/15/06) TEANECK ? Rumors have fueled increased speculation that Governor Jon Corzine (D-NJ) will raise New Jersey?s sale tax in an effort to close a nearly $4 billion budget hole.

Despite the rumors, Corzine remains tight-lipped about the possibility of a sales tax hike from 6 percent to 7 percent. The governor said specifics about his plan will be revealed when he unveils his budget next Tuesday. However, Corzine admits it will be difficult to solve New Jersey?s budget problems through funding cuts alone.

Residents say a sales tax hike would force them to pinch pennies even more than usual. In addition, retailers fear the increase would reduce the number of shoppers coming through their doors.

 

sorry to interrupt
your first 20 are free
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please enjoy 20 complimentary views of articles, photos, and videos during the next 30 days.
you have reached your 20 view limit
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please login or create an account to continue enjoying News12.
Our sign-up page is undergoing maintenance and is not currently available. However, you will be given direct access to news12.com while we complete our upgrade.
When we are back up and running you will be prompted at that time to complete your sign in. Until then, enjoy the local news, weather, traffic and more that's "as local as local news gets."