NJ Assembly approves $29B budget

(AP) - The New Jersey Assembly has approved a $29 billion budget that increases sin taxes and levies on businessesand the wealthy, and includes tax rebates for low-income residents. The vote was 45-34.

News 12 Staff

Jun 25, 2009, 9:00 PM

Updated 5,497 days ago

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(AP) - The New Jersey Assembly has approved a $29 billion budget that increases sin taxes and levies on businessesand the wealthy, and includes tax rebates for low-income residents.
The vote was 45-34.
The Senate is expected to vote Thursday on bills that raise $2.8billion through tax increases before considering the budget.
The spending plan includes property tax relief for 1.1 millionseniors and low-income residents.
The last-minute relief was possible because a tax amnestyprogram collected nearly $500 million from corporations andindividuals.
About half the residents who got rebates last year will seechecks this fall. Those making more than $75,000 and renters willlose their rebates.
Assembly Republicans objected to every tax increase bill, andnone approved the budget.


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