Oroho Welcomes Start of State Budget Hearings, Says Recently Enacted Tax Cuts Critical to State’s Economy
Senator Steve Oroho (R-Sussex, Warren, Morris), a member of the Senate Budget and Appropriations Committee, released the following statement as the committee began its first budget hearing of the year:
“Last year, in a bipartisan manner, we were able to enact significant, targeted tax cuts that will go a long way in attracting capital investment, addressing the outmigration of income and helping to grow jobs.
— Senator Steven Oroho (@stevenoroho) April 6, 2017
“Collectively, the long-awaited elimination of the estate tax, the phase-in of the five-fold increase in retirement income exclusions, the cut in the sales tax, the increase in the Earned Income Tax Credit, and a new $3,000 personal state income exemption for all veterans are already beginning to change the perception of the state. Now, we have a chance to build on that momentum and put the state in a much more competitive economic position.
“In addition, together these factors will create net revenue growth for New Jersey, better allowing the state to meet its obligations and to continue to invest in budget priorities. It is my hope that this committee will continue the pursuit of tax reform, so we can ease the financial burden weighing on families statewide.
“I’ve always taken this role very seriously, and I look forward to getting to work once again this budget season in tackling the issues that stand in the way of job creation and affordability in New Jersey, especially in the area of providing meaningful property tax relief.”