TRENTON, NJ (AP) – Most workers in New Jersey will be paying less in payroll taxes starting in January.
That’s when a reduction in the Disability Insurance tax takes effect.
Gov. Chris Christie announced at a town hall in Little Falls on Monday that the $190 million cut will save workers about $87 a year.
Assemblyman Matthew Milam, a South Jersey Democrat who sponsored the legislation in the Assembly, says the law is designed to provide tax relief by preventing excessive accumulations in the state disability benefits fund.
Christie previously signed a law cutting $57 million in Family Leave Insurance taxes. That tax break began in January.
(Copyright 2011 by The Associated Press. All Rights Reserved.)