Press Release
Connors, Rumpf & Gove 9th District
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Contact: Jason Smith / (609) 693-6700
January 21, 2016
Connors, Rumpf & Gove: Repeal the Death Tax

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Remarking on Governor Christie’s State of the State address, Senator Christopher J. Connors, Assemblyman Brian E. Rumpf and Assemblywoman DiAnne C. Gove echoed support for repealing New Jersey’s Estate Tax, commonly referred to as the “Death Tax.”

Connors, Rumpf & Gove expressed support for repealing New Jersey’s Inheritance Tax and Estate Tax. (SenateNJ.com)

The 9th District Legislative delegation has placed its support behind legislative initiatives that would repeal New Jersey’s Inheritance Tax and Estate Tax. Connors, Rumpf and Gove issued a joint statement following the Governor’s address:

“Repeal of both the Inheritance and Estate taxes is desperately needed to stop the exodus of residents and wealth from New Jersey to states with more reasonable and affordable taxes.

New Jersey and Maryland have the dubious distinction of being the only two states with both taxes, while a number of states have neither tax.

“Seniors can’t help but feel they’re specifically targeted by these taxes. To protect whatever nest egg that they have saved to pass on to their family, many seniors are forced to flee the state which often means being separated from loved ones and their home.

“Imposing both an Inheritance Tax and the Estate Tax is a glaring and harsh example of New Jersey’s extreme and, ultimately, self-defeating tax structure. The State Legislature should act quickly considering how resentful residents are of the Inheritance Tax and the Estate Tax and the fact that businesses consistently identify both taxes as impediments to economic growth.

“Certainly, we recognize the state is facing severe fiscal challenges. However, we remain convinced that the repeal of the Inheritance Tax and the Estate Tax will strengthen the state’s economy and, thus, improve revenues by keeping wealth in the state.”

Website Post:
http://www.senatenj.com/index.php/district9/connors-rumpf-gove-repeal-the-death-tax/25432