Warns Murphy’s Billions in New Taxes Will Push Tax Freedom Day for New Jerseyans Even Later

On Tax Day 2018, Senate Republican Leader Tom Kean warned that New Jersey residents will have to work longer to pay their tax bills if billions in tax increases proposed by Governor Phil Murphy are enacted.

“Although today is Tax Day, the day that income taxes must be filed, New Jerseyans actually will have to work through May 3rd to pay their combined federal, state, and local property tax bills for the year,” said Kean. “If Murphy’s billions in tax increases are enacted, New Jersey workers will have to work even further into the year just to pay their taxes.”

The Tax Foundation measures Tax Freedom Day as the point into the year that taxpayers must work to cover the cost of all of the taxes they pay.

Residents of several states with low tax burdens celebrated Tax Freedom Day in the first week of April, a month before New Jersey residents will get to celebrate, and 30 states have celebrated Tax Freedom Day by today, April 17th.

Only New Yorkers will have to work further into 2018 than New Jerseyans to pay their tax bills for the year.

Kean said the $1.7 billion in tax increases proposed by Governor Murphy would put New Jersey in a race for last place with the Empire State.

“The higher income taxes, increased sales taxes, and new taxes on sharing services like Uber and Lyft that Governor Murphy’s wants to implement would place New Jerseyans at serious risk of having the absolute worst tax burden in the nation,” added Kean. “We’re going to fight these tax increases. Unlike Governor Murphy, we want New Jerseyans to spend less time working to support big government and more time working to the benefit of their own families.”