TEANECK, NJ (WCBS 880) – Is there a case of tax bracket envy going on west of the Hudson River?
WCBS 880’s Levon Putney On The Story
Now that New York state lawmakers passed an income tax increase from 6.85 to 8.82 percent for households making over $2 million and single filers making over $1 million a year, New Jersey Gov. Chris Christie says, “Even with what Gov. Cuomo’s preparing to do, his taxes will still be significantly lower than New Jersey’s.”
That’s why Christie says the Garden State should lower taxes from a top rate of 8.97 percent, if they want to be competitive with New York, which also gives a tax break to middle class households in their plan.
There is no word on when any legislation would make its way through Trenton.
What do you think fo the tax situation in our area? Sound off in the comments section below!