State Republicans unveil economic stimulus proposal
Republicans are proposing to cut the state's sales tax in half over the holiday season to stimulate the economy.
The proposal to cut the sales tax from 7 percent to 3.5 percent was announced Tuesday. If passed, the reduction would be in place for five to six weeks over the holiday season.
"This proposal goes right to the heart of every waitress in the state of New Jersey," says Assemblyman Carolyn Casagrande (R-12th District). "It will stimulate the economy. It will boost sales. It will help our businesses who are on the edge during a very frightening time."
A spokesperson for Gov. Jon Corzine says the governor will consider the proposal, but that he also has trepidations.
"Removing five to six weeks of revenue will not help people get through this financial storm," says the spokesperson.
Corzine is slated to announce his own economic plan Thursday.