Let's not keep economic growth waiting another minute. If President Clinton and his Congress can reach backward into time and raise your taxes retroactively, your Governor and your legislature can cut them retroactively. That is why I am asking my partners in the legislature to enact a 5 percent income tax cut for every family in New Jersey effective January 1, 1994--17 days ago. Second, I am asking the legislature to eliminate all income taxes on those earning less than $7,500, again retroactively to January 1 this year. Those who are struggling the hardest need a tax cut the most. Third, I am asking the legislature to cut the corporate business tax to 9 percent, again effective January 1 this year. We will be competitive. No more losing our employers to job raids by low-tax States. New Jersey is open for business.
Jim Saxton: “Let's not keep economic growth waiting another minute. If President Clinton and his Congress can reach backward into…”
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Speaker Saxton discusses Governor Whitman's proposed tax cuts for New Jersey families and businesses.
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