NEWARK– As Americans file their income tax returns, New Jersey Citizen Action (NJCA) held a press conference today at its Free Tax Preparation Center in Newark to demand that the state Legislature and Gov. Chris Christie restore New Jersey’s Earned Income Tax Credit (EITC) for working families.
In the current budget, New Jersey’s EITC was trimmed from 25 percent of the federal benefit to 20 percent and it remains at that lower level in Christie’s proposed budget for the upcoming fiscal year. NJCA called on elected representatives at both the state and federal level to make corporations and millionaires pay their fair share by restoring the New Jersey’s millionaire’s tax to 2009 levels, closing corporate loopholes and ending federal tax cuts for the wealthiest individuals.
“In New Jersey it’s time to require that corporations and millionaires pay their fair share and support a balanced approach to our state budget so that we can protect the critical programs that serve our state’s middle class, our seniors and our most vulnerable residents,” said Phyllis Salowe-Kaye, executive director of NJCA.
Speaking on the importance of restoring the Earned Income Tax Credit, Ray Castro from NJ Policy Perspective said, “A half-million working poor families will pay higher taxes again this year because of the Christie Administration’s reduction in the state Earned Income Tax Credit. Compared with two years ago, a parent with two children earning the minimum wage will pay $300 more in taxes, even as the administration provides tax credits to corporations and millionaires. It’s another unfortunate example of why we need a balanced approach, one that doesn’t place the burden unfairly on the backs of those who can least afford it.”
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