Chris Christie on Tax Reform
In January 2012 Christie proposed cutting income tax rates by 10% across-the-board over 3 years; higher-income taxpayers would have seen a greater decrease because they pay more in income taxes. But after Democrats cried foul, the governor backed off that plan and endorsed a Democratic proposal to cut income taxes only for income under $400,000.
Buono is correct that Christie proposed a tax cut last year. But Buono leaves out that the governor dropped his original proposal in favor of a Democratic tax-cut plan that he's supported since July.
But those increases included raising taxes, fees and other tax policy changes. Also, there are many other factors affecting the loss of jobs, wealth and residents. For that statement, the governor received a Half True.
Christie also claimed naysayers said it was "impossible to balance a budget at the same time, with an $11 billion deficit" and "we did it."
The deficit figure Christie cites refers to a $10.7 billion projected structural deficit, a calculation Christie uses to his advantage in his first budget year but has since dismissed as the old way of budgeting. Christie received a Half True.
I propose to reduce income tax rates for each and every New Jerseyan. In every tax bracket. By 10% across the board.
I also propose to fully restore the earned income tax credit for New Jersey's working poor, which we were forced to cut during the dark days of 2010, when growth was gone & we had no money. Understand what this means--every New Jerseyan will get a cut in taxes. The working poor. The struggling middle class. The new college graduates getting their first job. The senior citizens who have already retired. The single mom. The job creators. The
In fact, Jon Corzine and Jim McGreevey have raised taxes on the average New Jersey family by more than $10,000 since 2002--over $22 billion in taxes, the highest in the nation.
This will change in a Christie Administration. Highlights from Chris' plan to cut our taxes:
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2016 Democratic Candidates:
Mayor Rahm Emanuel(IL)
2016 GOP Candidates:
2016 Third Party Candidates:
Mayor Michael Bloomberg(I-NYC)