New Jersey
States Move to Tax the Top in 2024
March 20, 2024 • By Marco Guzman, Miles Trinidad
These forward-thinking states are demonstrating the wide variety of options for policymakers who want to raise more from the wealthiest people, rein in corporate tax avoidance, create fair tax codes and build strong communities.
New Jersey Policy Perspective: StayNJ 2.0: Senior Tax Cut Still 2 Regressive and 2 Expensive
June 28, 2023
Updated StayNJ senior tax cut proposal would still send the biggest benefits to already-wealthy households. Read more.
New Jersey Policy Perspective: Stay Away from StayNJ: Proposal Cuts Taxes for the Rich, Leaves Low-Income Seniors Behind
June 9, 2023
Housing affordability is one of the most pressing challenges facing New Jersey, but not all policies aimed at making the state affordable are equally effective, efficient, or equitable. When evaluating new proposals and changes to the tax code, it’s critical to consider who stands to benefit, by how much, and who is left behind. In […]
New Jersey, New York, and Connecticut Should Keep Corporate Taxes Strong, Extend Surcharges
February 28, 2023 • By Marco Guzman
At a time when corporations are seeing record profits while not paying their fair share of federal taxes, state corporate income taxes can and should play a role in raising sustainable revenue and adding progressivity to state tax codes. Right now, lawmakers in New Jersey, New York, and Connecticut have a unique opportunity to extend targeted tax changes that have raised billions of dollars from profitable corporations for meaningful public investments.
New Jersey Policy Perspective: How an Expanded Child Tax Credit Would Help More Hard-Working New Jersey Families
January 31, 2023
Doubling the maximum credit amount would help hundreds of thousands of children and their families pay for basic needs. Read more.
New Jersey Policy Perspective: Making New Jersey Affordable for Families – The Case for a State-Level Child Tax Credit
February 23, 2022
A state-level child tax credit would recognize the unique costs of raising children and the support that most families need to care for their kids and set them up for success. When families can pay for basic expenses and save for their children’s futures, it improves child well-being immediately by reducing key costs like food […]
The Rockefeller Foundation: The Untold Benefits of State EITCs on Child Welfare
June 16, 2021
With the passing of the American Rescue Plan in March, more than 5 million children are projected to be lifted out of poverty this year, cutting child poverty by more than half, through Earned Income Tax Credit (EITC) and Child Tax Credit (CTC) expansions. But what about state tax codes? What can states do to […]
New Jersey Policy Perspective: Blueprint to Secure a Just Recovery
April 24, 2021
In 2017, New Jersey Policy Perspective released the Blueprint for Economic Justice and Shared Prosperity. It charted a course forward for the state after decades of short-sighted policymaking that exacerbated racial disparities, spread economic inequality, and weakened our ability to address emergent problems. Now, as we begin to recover from the COVID-19 pandemic and recession, […]
New Jersey Leads by Example with Its New Cannabis Tax
January 12, 2021 • By Carl Davis
New Jersey lawmakers passed an innovative tax design that other states debating cannabis legalization should look to for inspiration. The state officially legalized cannabis in November when voters overwhelmingly approved a constitutional amendment by a margin of 67 to 33 percent. The amendment applied the state’s general sales tax to cannabis and allowed local governments to create their own taxes on the industry. The legislature added the most notable part of the tax structure last month with a Social Equity Excise Fee.
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