The annual kabuki dance in Trenton known as the budget negotiations is a mixed bag as usual. Reducing the sales tax is long overdue. The income tax should be reduced as well. The passing out of the estate tax is off the table as well as the charitable deduction. Deductions are good; they reduce taxes. Spending is increasing. We will see how much spending Gov. Christie will eliminate from the proposed budget.
“Governor Christie and Assembly Speaker Vincent Prieto on Monday upended the plan to fund transportation projects and instead tried to pass their own: Raise the gas tax by about 23 cents per gallon, and in exchange chop the state sales tax over two years from 7 percent to 6 percent.”