Sources Say Agreement Worked Out For N.J. Budget

wnbc.com ^ | 7/6/2006 | wnbc..com

[westfield3]

TRENTON, N.J. -- An agreement has been worked out that will result in a new budget for the state of New Jersey, sources told NewsChannel 4 on Thursday.

Gov. Jon Corzine and lawmakers are still hammering out details on how to spend the penny sales tax increase. Indications are at least half the revenue will go for property tax relief this year with larger amounts going for property tax relief in later years.

If lawmakers can begin acting on this deal, Atlantic City casinos could be open sometime this weekend and full state services would resume as early as Monday.

[westfield3]

Various media are reporting that behind closed doors, Corzine and democrat leaders have agred to a an over $1 billion sales tax increase "with half to go towards property tax relief" - and extending the sales tax to currently untaxed items.

Reportedly, as part of the deal Corzine and the Democrats will have a consitutional amendment added to the ballot in November to dedicate the increased sales tax to "property tax relief", allowing each of the dems a chance to "save face".

Either way, the budget will be increased over 10% - $3 Billion - and a wide array of taxes increased.

[Williams]

"....how to spend the penny sales tax increase."

AAAAAARRRGGHH!

[samadams2000]

Ya!!!! Raised taxes for everyone!!!! Democrats rule!!!

[Fury]

...consitutional amendment added to the ballot in November to dedicate the increased sales tax to "property tax relief"

Right....

[Personal Responsibility]

I imagine there are quite a few gambling addicts that will be happy to hear this news.

[leprechaun9]

The political WHORES strike again!!!

[XRdsRev]

Lets see just how much of this democrat "property tax relief" ever makes it to Republican municipalities.

I am willing to bet, that Sussex, Warren, Morris, Somerset, Ocean and Cape May counties get hosed big time.

[divine_moment_of_facts]

Don't forget Monmouth county!

[Txsleuth]

Aren't Democrats cute?

[chimera]

Didn't Corslime campaign on a promise not to raise taxes? Or was it one of those Clintonian promises of "I won't raise taxes (unless I have to)"? In any case, this just proves the old axiom, elect 'Rats, get higher taxes. They go hand in hand. It's what 'Rats do. Good job, NJ.

[trebb]

Indications are at least half the revenue will go for property tax relief this year with larger amounts going for property tax relief in later years.

I wonder if anyone will bother to ask them about the rationale for raising taxes in order to provide tax relief?

[Txsleuth]

PING...to new taxes!

[dead]

They were never debating whether or not to raise taxes, they were debating which ones to raise.

Just raise them all, so everybody's happy.

This state just seems ripe for the establishment of a Republican party. Sure could use one.

[American Quilter]

I'd love to see every conservative in New Jersey pack up and move out. Let's see the Democrats try to run a massive welfare state once all the producers are gone. (I know, shades of "Atlas Shrugged".)

[2banana]

It always amazes me how dems have to RAISE taxes in order to give a TAX break...

[dead]

I wonder if anyone will bother to ask them about the rationale for raising taxes in order to provide tax relief?

It's the only way Bob Torricelli, Robert Menedez and Sharpe James can get their fair share of the booty.

[Huck]

That's a bummer, man.

[Brad from Tennessee]

Exactly! It's all word games. Why not just drop the sales tax increase and save a lot of paperwork. The amendment that needs to be placed on the November N.J. ballot is a sales, property and income tax cap.

[Mo1]

...to new taxes!

All those surprised by this .. raise your hands

[OneRatToGo]

We have a budget deficit in New Jersey.

LOWER YOUR SPENDING!!!