NJ Senate, Assembly approve state budget

(AP) - The New Jersey Senate has approved a $29 billion budget that raises taxes on businesses and some residentsbut preserves property tax rebates to homeowners with limited andfixed incomes. The vote

News 12 Staff

Jun 26, 2009, 3:23 AM

Updated 5,502 days ago

Share:

(AP) - The New Jersey Senate has approved a $29 billion budget that raises taxes on businesses and some residentsbut preserves property tax rebates to homeowners with limited andfixed incomes.
The vote was 22 to 17.
The Assembly approved the spending plan earlier Thursday by a mostly party-line 45-34 vote.
The recession-year budget raises $1.3 billion in new taxes on liquor, cigarettes and the wealthy. It extends a 4 percent surcharge on the corporate business tax that was to expire, and realizes $500 million by suspending rebates to renters and higher income homeowners. Republicans say all that amounts to $2.8 billion in tax increases.
The budget must be signed by the governor by July 1.


More from News 12
0:36
Police: Borgata Hotel briefly evacuated after caller claims to have bomb

Police: Borgata Hotel briefly evacuated after caller claims to have bomb

2:13
Cooler temps overnight; sunny and warm Friday ahead for New Jersey

Cooler temps overnight; sunny and warm Friday ahead for New Jersey

13:51
'I’m not supposed to be here tonight.' Donald Trump recounts assassination attempt

'I’m not supposed to be here tonight.' Donald Trump recounts assassination attempt

2:14
Property taxes increase in New Jersey towns as state slashes school funding

Property taxes increase in New Jersey towns as state slashes school funding

1:39
New Jersey environmental justice law won't block power plant hotly fought by Newark residents

New Jersey environmental justice law won't block power plant hotly fought by Newark residents

1:53
Hundreds of Hunterdon and Somerset county residents clean up following intense Tuesday storms

Hundreds of Hunterdon and Somerset county residents clean up following intense Tuesday storms

1:57
Prosecutor: Director of Brick Township Rec Department issued phony permits to play on ballfields

Prosecutor: Director of Brick Township Rec Department issued phony permits to play on ballfields

0:44
Jersey Proud: Union Township elementary school students participate in junior police academy

Jersey Proud: Union Township elementary school students participate in junior police academy

0:22
Police: 7 passengers on adult day care bus taken to hospital after crash in East Orange

Police: 7 passengers on adult day care bus taken to hospital after crash in East Orange

1:01
Newark officials tout city’s Summer Youth Employment Program

Newark officials tout city’s Summer Youth Employment Program

1:44
Select NJ Transit trains not operating due to heat-related rail equipment issues

Select NJ Transit trains not operating due to heat-related rail equipment issues

1:48
How often do meteors enter Earth’s atmosphere?

How often do meteors enter Earth’s atmosphere?

0:24
Jackson father accused of leaving infant in hot car released from jail

Jackson father accused of leaving infant in hot car released from jail

1:22
Best Beaches: Having fun at Keansburg Amusement Park

Best Beaches: Having fun at Keansburg Amusement Park

1:29
Moderate drought expands in Central New Jersey and in regions in Northern New Jersey

Moderate drought expands in Central New Jersey and in regions in Northern New Jersey

1:46
Saddle up at Wild West City in Byram Township

Saddle up at Wild West City in Byram Township

0:25
State police: Missing Irvington man found dead almost 3 weeks after his disappearance

State police: Missing Irvington man found dead almost 3 weeks after his disappearance

0:25
Former Wall Township High School teacher accused of sexual assault faces additional charges

Former Wall Township High School teacher accused of sexual assault faces additional charges

0:35
Man tosses dog over fence in front of Atlantic City animal shelter

Man tosses dog over fence in front of Atlantic City animal shelter

0:19
Closing arguments in Evan Gershkovich’s espionage trial will be Friday, court says

Closing arguments in Evan Gershkovich’s espionage trial will be Friday, court says