Governing: Why New Jersey Is Headed for Another Shutdown

But Meg Wiehe, deputy director of the left-leaning Institute on Taxation and Economic Policy, notes that the federal corporate income tax cut also has an effect on high-income earners. Historically, shareholders have been the biggest beneficiaries of corporate tax cuts. According to her organization’s research, that means New Jersey’s wealthiest 1 percent will still see a significant tax cut. “Sweeney has narrowly focused on one part of the tax cut package,” she says. Read more