(TRENTON) – Assembly Speaker Craig Coughlin today announced a landmark agreement reached with Governor Phil Murphy and Senate President Steve Sweeney that will provide a much-needed tax break to hard-working, middle class families in New Jersey.
Under the agreement, nearly 700,000 middle class families will receive a rebate check totaling $500. Those eligible for the rebate include joint State Income Tax filers with a total taxable income of up to $150,000 and individual filers with a total taxable income of up to $75,000 who have dependent children. Additionally, as part of the agreement Governor Murphy, Senate President Sweeney, and Speaker Coughlin agreed to increase the tax rate on millionaires to 10.75 %.
“I would like to commend the Governor and Senate President Sweeney for their work on behalf of working, middle class New Jerseyans and thank them for their continued partnership,” said Coughlin (D-Middlesex). “I am very pleased that we have been able to reach this important agreement that will help middle class families, many of whom are struggling due to the COVID-19 pandemic. It is critically important that we stand up for those battling to put food on the table, pay bills and afford everyday necessities.”
“Helping middle class families has always been a priority for Democrats,” said Assembly Budget Committee Chair Eliana Pintor Marin (D-Essex). “This agreement takes an important step toward achieving that.”
The Speaker praised the Assembly Budget Committee and added, “I couldn’t have led these efforts without the support of the Assembly Leadership team. I look forward to finalizing a budget that reflects our important shared values such as education and health care and provides fiscal responsibility during these unprecedented and challenging times.”
The Assembly Democratic Leadership team is comprised of:
Majority Leader Lou Greenwald (D-Camden, Burlington)
Budget Committee Chairwoman Eliana Pinto Marin (D-Essex)
Appropriations Committee Chairman John Burzichelli (D- Gloucester, Cumberland, Salem)
Speaker Pro Tempore Gordon Johnson (D-Bergen)
Conference Leader Annette Quijano (D-Union)
Majority Whip Nicholas Chiaravalloti (D-Hudson)
Policy Chairman Gary Schaer (D-Bergen, Passaic)
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