NJ Spotlight: Fine Print: Transportation Funding Puts Sales Tax-Cut Under Microscope

“Alarms are being sounded, however, about the proposed sales-tax cut by New Jersey Policy Perspective, a liberal think tank based in Trenton. A joint analysis by NJPP and the Institute on Taxation and Economic Policy determined the sales-tax cut combined with the proposed tax-policy changes to sources of retirement income would give 74% of the proceeds of the cuts to the top 40 percent on the income scale. The bottom 40 percent would get just 9.5 percent, according to the analysis, which is scheduled to be released today.”

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