Bucco: Savings from Original Furlough Bill Could Have Funded Homestead Benefit & Senior Freeze

Governor Leaves $750 Million of Savings on the Table, Threatens to Slash Popular Property Tax Relief Programs

Senator Anthony M. Bucco said Governor Phil Murphy missed an opportunity to implement State employee furloughs back in May that could have provided more than enough savings to fund property tax relief programs that provide critical assistance to families and seniors:

“The Legislature sent Governor Murphy bipartisan furlough legislation back in May that could have saved the State an estimated $750 million, more than enough to fund the Homestead Rebate and Senior Freeze programs. Instead, he returned to the Legislature a watered down furlough bill that is unlikely to produce any substantial savings. This is unacceptable.

“Because the governor failed to enact the original legislation, the State budget is in a deeper hole. In fact, the administration says it may cancel Homestead Benefit credits on upcoming property tax bills and Senior Freeze reimbursements that otherwise would have been paid this month. It didn’t have to be this way.

“We’ll keep fighting to get New Jerseyans the property tax relief they deserve.”

Governor Murphy already eliminated Homestead Benefit credits from property tax bills due in May, leading to higher bills for many homeowners.

Concerned taxpayers can sign an online petition that urges Governor Murphy not to follow through on his threat to cut the Homestead Benefit and Senior Freeze property tax relief programs.