Budget vote delayed due to tax amnesty windfall

The scheduled state budget vote was postponed Thursday due to an unexpected windfall of nearly half a billion dollars in tax amnesty. Gov. Jon Corzine says New Jersey has gotten $400 million more in

News 12 Staff

Jun 18, 2009, 11:46 PM

Updated 5,570 days ago

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The scheduled state budget vote was postponed Thursday due to an unexpected windfall of nearly half a billion dollars in tax amnesty.
Gov. Jon Corzine says New Jersey has gotten $400 million more in tax amnesty than anticipated. The governor added thousands of envelopes are still unopened and that number could grow.
The budget is expected to be debated in committees now on Monday and go before the full Assembly and Senate for a vote next Thursday.
Treasurer David Rousseau originally expected the program would bring in $100 million,later increasing the projection to $200 million. Tax delinquents have sent in $600 million and counting, however.
The governor says he intends to use the money to partially restore property tax rebates, one of the controversial items to fall on the budget's chopping block.
"This money belongs to the taxpayers," says Corzine. "We're going to give it back to them in property tax relief."
Democrats are suggesting using the money to restore property tax rebates for families making up to $75,000 a year. Families making up to $200,000 a year would be allowed to deduct property taxes from state income taxes.
Republicans are still promising to vote against the budget. They say Corzine is relying on a gimmick and not really doing anything to address New Jersey's financial problems.
AP wires contributed to this report.