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By DMUAdmin Fred H. Madden Jr Linda Greenstein News & Releases Steve Sweeney

10 Jan: Sweeney/Madden/Greenstein Measure To Cut Income Taxes For Seniors, Retirees Clears Legislature

TRENTON – Legislation Senate President Stephen M. Sweeney and Senators Fred Madden and Linda R. Greenstein sponsored to provide New Jersey’s middle-class senior citizens and retirees with an income tax cut, allowing them to remain in New Jersey amidst the tide of rising property taxes, was today passed by the Legislature and sent to the Governor’s desk.

“Instead of simply giving the rich all the tax cuts in the hopes it will trickle down, we should be allowing seniors and retirees to keep money in their pockets so they can afford to stay in New Jersey,” said Sweeney (D-Gloucester/Cumberland/Salem). “We need to be allowing retirees to stay here for the long-term instead of taking their retirement savings elsewhere. It’s a smart move that will help small businesses and downtown New Jersey.”

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Members of legislative leadership listen and prepare to answer reporters' questions about how reinstating the millionaire's tax would raise more than $620 million this year.
By DMUAdmin News & Releases Steve Sweeney

08 Oct: Sweeney Introduces Legislation To Cut Income Taxes For Seniors, Retirees

TRENTON – Senate President Stephen M. Sweeney has formally introduced legislation to provide New Jersey’s middle-class senior citizens and retirees with an income tax cut, allowing them to remain in New Jersey amidst the tide of rising property taxes.

Sweeney contrasted his proposal to one previously announced by Governor Christie, who said his goal was to cut income taxes for the highest-paid residents by one-third.

“Instead of simply letting the rich get richer in the hopes it will trickle down, we should be allowing seniors and retirees to keep money in their pockets so they can afford to stay in New Jersey,” said Sweeney (D-Gloucester/Cumberland/Salem). “Allowing them to stay here for the long-term instead of taking their retirement savings elsewhere will benefit our economy far more than another tax break for the rich.”

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