TRENTON – Senator Joseph V. Doria, D-Hudson, a member of the Senate Budget and Appropriations Committee, issued the following statement regarding Governor Corzine’s FY 2008 Budget Address:
“Governor Corzine’s proposed budget is good news for those New Jerseyans who are struggling to meet the high cost of living in the Garden State.
“He has issued a budget that is not balanced on the backs of New Jersey’s taxpayers, ensuring that this budget does not contain the tax hikes that we’ve had to rely on over the last six years. At the same time, we’ve provided much needed property tax assistance, through the Legislative Special Session, which will nearly quadruple the average benefit to middle-income taxpayers in the State.
“Governor Corzine has proposed increasing the threshold for the Earned Income Tax Credit from $20,000 a year to $40,000 in annual income. That hits home for nearly 300,000 New Jersey residents who are living paycheck to paycheck and barely making ends meet.
“And he has proposed increasing school and municipal aid, to take some of the burden off the backs of local property taxpayers. For the last three years, school and municipal aid has remained flat as costs have continued to rise.
“This is a property tax relief budget, and it will mean more in the wallets of New Jerseyans fighting to make a living in the Garden State.”