Oliver: Assembly Democrats Ready to Sign Off on 2% Cap

Assembly Democrats are prepared to support the 2% property tax cap deal struck Saturday between Gov. Chris Christie and Sen. Steve Sweeney (D-West Deptford)

In a statement released moments after the democrat Assembly caucus concluded, Assembly Speaker Oliver, who refused to support the deal Saturday until she had met the Assembly Democrats, threw her support behind the plan.

“The Assembly Democratic caucus – as it always does - had an energetic discussion about property tax reform and where New Jersey goes from here," Oliver said. “We believe the plan to cap increases at 2 percent and provide exceptions incorporates many of our ideas to control property taxes and is a significant change from the governor’s initial plan. The proposal has our support."

NJECPAC will provide further details on the 2% cap, including the added exemptions in the new deal when they become available. 

Senate Republicans Caucus while Democrats Don’t Show Up to Work on Property Tax Relief

Senate Republican Caucus: Cap 2.0 Equals Real Property Tax Relief for Long Suffering NJ Taxpayers

Senate Republican Leader Tom Kean and the Republican Caucus issued the following statement regarding Governor Chris Christie’s Saturday special session on property taxes in New Jersey:

“The Senate Republican Caucus welcomes the agreement between Governor Christie and the Legislature that will impose a 2.0 percent hard cap on property tax increases at every level of government. This is good news for New Jersey residents who have been routinely subject to more than seven percent property tax increases over the past decade.”

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Democrats Fail To Show Up to Work on Property Tax Relief For NJ Taxpayers 

The entire Senate Republican Caucus showed up in Trenton Saturday prepared to act on Governor Chris Christie’s permanent property tax relief package, but the Democratic Majority failed to show up.

Senate Republican Leader Tom Kean (R-Union) made the following statement on behalf of all seventeen members:

“The Democrats refused to show up today to fix our property tax crisis while families fight to stay in their homes. There is a real affordability crisis in New Jersey. We must act before another family moves out or another business closes.”

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6 Months To Go Until The Largest Tax Increase In History

Unless Congress and The President Act, in just six months, the largest tax hikes in American History will take effect.

They will hit families and small businesses in three great waves on January 1, 2011:

In 2001 and 2003, the GOP Congress enacted a package of tax cuts for investors, small business owners, and families. these tax cuts resulted in the Federal Government bringing more tax revenue than ever in our country's history and an unemployment rate of less than 5%

Those tax cuts will all expire on January 1, 2011. Members of Your Government Affairs Committee have traveleled to Washington year after year and asked for the tax cuts to be made permanant to no avail.

Personal income tax rates will rise. The top income tax rate will rise from 35 to 39.6 percent (this is also the rate at which two-thirds of small business profits are taxed). The lowest rate will rise from 10 to 15 percent.

All the rates in between will also rise. Itemized deductions and personal exemptions will again phase out, which has the same mathematical effect as higher marginal tax rates. The full list of marginal rate hikes is below:

- The 10% bracket rises to an expanded 15%

- The 25% bracket rises to 28%

- The 28% bracket rises to 31%

- The 33% bracket rises to 36%

- The 35% bracket rises to 39.6%

For a full listing of the Taxes that will rise on January 1st 2011 Click Here

Pelosi: Unemployment Checks Fastest Way to Create Jobs

Every now and then politicians say things that are so totally unbelievable they prompt an automatic second take. A recent statement by Nancy Pelosi (House Speaker and leader of the House of Representatives) is just one of them.

Nancy Policy said last week that "Unemployment benefits are creating jobs faster than practically any other program".

I know.....your shaking your head too.

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