NJ Gov.'s Budget Includes $319M In Middle-Class Tax Relief

Law360 (February 23, 2021, 7:10 PM EST) -- New Jersey's governor proposed a budget Tuesday that includes $319 million in direct tax relief for middle-class families, including a $500 rebate for couples and individuals with qualified dependents, and $1.25 billion to support property tax relief programs.

The budget introduced by Democratic Gov. Phil Murphy includes funding to expand the New Jersey veterans property tax deduction and expand eligibility for the earned income tax credit to about 70,000 senior citizens without dependents. The governor also proposed expanding the eligibility of the child and dependent care credit to families making up to $150,000 and making it refundable.

Murphy said the millionaires'...

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