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Article Index"Inefficient SUVs directly contribute to the global warming crisis. Increasing registration fees on gas guzzlers is a two-fer because it discourages people from driving polluting vehicles while at the same time generating revenue that we can invest in public goods like environmental protection," said Bonime.
Many of the revenue proposals in the current legislation were initially proposed by the Better Choices Budget Campaign. They include:
- Adjusting the state income tax to more closely reflect ability to pay. The FY 2010 budget increases the rate on residents making between $400,000 and $500,000 from 6.37% to 8%, those making between $500,000 and $1,000,000 from 8.97% to 10.25%, and those making over $1,000,000 from 8.97% to 10.75%.
- Curbing business tax breaks and loopholes, including repealing sun setting provisions for minimum tax on corporations with gross receipts of $100,000 or more and 4 % surcharge on corporate business tax liabilities for other corporations. The FY 2010 budget recommends keeping the 4% surcharge on corporate business tax liabilities. The minimum tax on corporations will remain. It is estimated that extending the 4% surcharge will bring in $80 million in FY 2010.
- Levying a 5 percent tax on lottery winnings. New Jersey currently does not tax lottery winnings, while, the federal government and 24 states do. State rates range from 3.4 percent to 8 percent and usually exempt from taxation winning under $600. The FY 2010 budget levies a new tax on lottery winnings over $10,000. This is estimated to bring in $40 million.
- Increasing the alcoholic beverage tax. NJ now taxes liquor at $4.40 per gallon; wine, vermouth and sparkling wine at 70 cents per gallon; and beer and hard apple ciders at 12 cents per gallon. The FY 2010 budget recommends a 25% increase in alcoholic beverage taxes excluding beer. This is estimated to bring in $22 million.
Endorsing Organizations
AFSCME, NJ Council 1
Bergen Community College Environmental Club
Bergen Grassroots
BlueWaveNJ
Center for Women and Work at Rutgers
Communications Workers of America, District 1
Communications Workers of America, Locals 1032, 1037, 1039, 1080, 1081 and 1082
Council of New Jersey State College Locals, AFT
First AME Zion Church in Paterson
Fund for an Open Society
Grassroots Institute of New Jersey
Haiti Solidarity Network of the Northeast
Health Professionals and Allied Employees, AFT
Hispanic Directors Association of New Jersey
Housing and Community Development Network of New Jersey
Immigrants' Rights Defense Committee
La Casa de Don Pedro
National Association of Social Workers, New Jersey Chapter
New Jersey Association of Community Organizations for Reform Now
New Jersey Black Issues Convention
New Jersey Citizen Action
New Jersey Environmental Federation
New Jersey Immigration Policy Network
New Jersey Policy Perspective
New Jersey Tenants Organization
New Jersey Work Environment Council
New Jersey Working Families Alliance
NJIT Student Senate
People's Organization for Progress
Puerto Rican Family Institute
Roosevelt Institution, Rutgers-New Brunswick/Piscataway Chapter
Rutgers Labor Association
Service Employees International Union, New Jersey State Council
Sierra Club, New Jersey Chapter
Statewide Education Organizing Committee
Union of Rutgers Administrators - AFT Local 1766
United Food and Commercial Workers, Region 1
United Presbyterian Church in Paterson
William Paterson University YDS Chapter
