NJ Senate Passes Chris Christie Plan To Slash Sales Tax On Yachts
TRENTON, N.J. (CBSNewYork/AP) -- The New Jersey Senate approved Gov. Chris Christie's proposal to give potential boat buyers a 50 percent break on the sales tax.
The Democrat-led Senate voted 37-1 Thursday in favor of the proposal, with one Democrat opposed.
Sen. Shirley Turner, D-Ewing Township, called the measure unfair and said it does nothing to help lower-income residents.
Sen. Jeff Van Drew, D-Cape May, said, however, that is exactly who the measure will help, citing mechanics and marinas that would benefit from the bill.
Christie proposed slashing the 7 percent sales tax by half after vetoing an earlier proposal that would have capped the tax at $20,000.
That measure would have provided relief on boats that cost more than $285,000.
The National Marine Manufacturers Association says such high-priced boats were only a fraction of the $160 million in new boat sales made in the state last year.
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