Governor mulls nixing tax rebate checks in 2009
Gov. Jon Corzine is considering getting rid of tax rebate checks next year as the state tries to rectify its budget problems.
A decision has not been made yet, but the governor will examine the possibility along with other cost-saving maneuvers for next year's budget.
"We will review it among all other things to get our budget in balance in 2009," says Corzine.
If the rebates are cut, homeowners with a family income less than $100,000 would lose $1,100 on average. Families earning between $100,000 and $150,000 stand to lose an average of $665.
The news comes on the heels of New York City Mayor Michael Bloomberg announcing a similar plan.
The news is not sitting well with New Jersey homeowners, some of whom say they're already counting on the rebate checks just to make ends meet.
"I think it's a very bad idea in this time that we need the money," says Kim Knopf, of East Windsor. "The middle, the high, any kind of class we're in, we need the money."
Some critics say the possibility of canceling the rebates amounts to a broken promise. Corzine signed a one-cent sales tax increase two years ago and pledged the money would pay for property tax rebates.