Wise Young
06-05-2006, 01:14 AM
http://wcbstv.com/newjerseywire/NJ--StateBudget-jn/resources_news_html
State budget battle rumbles into home stretch
Sunday June 04, 2006
By TOM HESTER Jr.
Associated Press Writer
TRENTON, N.J. (AP) For all the legislative gabbing and jabbing, nothing has yet been decided about Gov. Jon S. Corzine's proposed budget with its tax increases and program cuts, but New Jerseyans should pay close attention in the coming weeks.
New taxes almost certainly will be approved. Relief for the state's highest-in-the-nation property taxes is at risk. Leafy state parks and sunny beaches might not be open for July Fourth. And the local hospital might not survive, depending which argument one accepts.
Here's five things to watch:
The article goes on to mention:
July 1 deadline for a balanced budget.
Sales tax. Corzine proposes increase from 6% to 7%, to raise $1.1 billion, to pay off the pension fund. It may include expansion of the sales tax to include health clubs, storage, video downloads, attorneys, accountants.
Hospital taxes. $1440 per bed monthly tax, half to be spent to cover the budget deficit and half to attract more federal dollars to pay for uninsured.
Property tax relief. Corzine proposes keeping increasing the relief by 10% but keeping it at last year's level would save $70 million.
Surprises. Needle exchange. school construction. property tax reform.
Wise.
State budget battle rumbles into home stretch
Sunday June 04, 2006
By TOM HESTER Jr.
Associated Press Writer
TRENTON, N.J. (AP) For all the legislative gabbing and jabbing, nothing has yet been decided about Gov. Jon S. Corzine's proposed budget with its tax increases and program cuts, but New Jerseyans should pay close attention in the coming weeks.
New taxes almost certainly will be approved. Relief for the state's highest-in-the-nation property taxes is at risk. Leafy state parks and sunny beaches might not be open for July Fourth. And the local hospital might not survive, depending which argument one accepts.
Here's five things to watch:
The article goes on to mention:
July 1 deadline for a balanced budget.
Sales tax. Corzine proposes increase from 6% to 7%, to raise $1.1 billion, to pay off the pension fund. It may include expansion of the sales tax to include health clubs, storage, video downloads, attorneys, accountants.
Hospital taxes. $1440 per bed monthly tax, half to be spent to cover the budget deficit and half to attract more federal dollars to pay for uninsured.
Property tax relief. Corzine proposes keeping increasing the relief by 10% but keeping it at last year's level would save $70 million.
Surprises. Needle exchange. school construction. property tax reform.
Wise.