Moving to further recognize New Jersey veterans for their service, legislation (A-5609) to double the existing gross income tax deduction for honorably discharged or released veterans from $3,000 to $6,000 was signed into law Sunday by Governor Phil Murphy. The measure passed the Assembly last month by a vote of 78-0, and Senate 38-0.
Bill sponsors, Assembly Democrats Bruce Land (D-Cape May, Atlantic, Cumberland) Roy Freiman (Somerset, Mercer, Middlesex, Hunterdon), John Armato (D-Atlantic), Gordon Johnson (D-Bergen), Raj Mukherji (D-Hudson), Matthew Milam (D-Cape May, Atlantic, Cumberland) and Vince Mazzeo (D-Atlantic) released the following joint statement:
“Veterans represent America’s finest men and women. They’ve all made significant sacrifices in the name of service to their country, and they deserve our utmost respect. Any opportunity we have to support them for their service is one we need to take.
“Under this new law, veterans will be able to deduct $6,000 on their taxable income earned this year. It’s the least we can do to show our unending appreciation for our veterans and their families.”