According to analyses by the Institute on Taxation and Economic Policy and New Jersey Policy Perspective, modest adjustments to income tax rates on those earning $250,000 and more would raise approximately $1.5 billion in new revenue each year while making the overall tax code fairer. Extending the temporary corporate tax surcharge of 2.5% on businesses with profits of $1 million or more would provide $425 million in additional annual revenue to invest in critical assets and services. Read more
August 20, 2020
Newark Star-Ledger: Nearly 100 economists wrote Gov. Murphy a letter. They said, we must raise taxes
Institute on Taxation
and Economic Policy
ITEP is a non-profit, non-partisan tax policy organization. We conduct rigorous analyses of tax and economic proposals and provide data-driven recommendations to shape equitable and sustainable tax systems.
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