Recognizing them for the landmark tax reforms that reduced taxes on retirement income, increased tax savings for the working poor, cut the estate tax and provided long-term funding for the state’s Transportation Trust Fund, the Tax Foundation has honored Senator Paul Sarlo and Senator Steve Oroho with its “Outstanding Achievement in State Tax Reform” award.
Sen. Steve Oroho and Sen. Paul Sarlo were recognized for “Outstanding Achievement in State Tax Reform.” (SenateNJ.com)
The Tax Foundation, one of the nation’s leading independent tax policy research organizations, providing research, analysis, and advocacy on federal, state, and local tax policies, selects honorees each year who “accomplished extraordinary work to advance the cause of simpler, smarter tax policy.”
Senator Sarlo and Senator Oroho worked as a bipartisan team in crafting and enacting a package of bills to fund the depleted TTF, phase out the estate tax, increase the tax exemption on retirement and pension income, and increase the Earned Income Tax Credit for low-income workers.
“At a time of a bitter political divide in the country that too often prevents progress on vital public issues, we gained bipartisan support for reforms that will meet the state’s critical transportation needs, provide a long-term boost to the economy and target tax savings that will benefit small businesses, retirees, middle class families, the working poor and veterans,” said Senator Sarlo, who serves as chairman of the Senate Budget and Appropriations Committee. “These are tax reforms that address real needs in New Jersey that will reduce expenses for those who need it most. We did not allow partisan politics to prevent us for making real progress.”
“The goal has always been to make New Jersey more competitive with other states, more fiscally responsible, and ultimately more affordable for this and for future generations,” said Senator Oroho. “Rather than kick the can down the road again, as so many have before, I worked with a bipartisan group of legislators and negotiated real tax reforms for the people of New Jersey. It wasn’t the easy thing to do, but it was the right thing to do.”
“Working for better tax policy is not easy,” said Joseph D. Henchman, Vice President of Legal & State Projects for the Tax Foundation. “A piece of glass hardly compares to the efforts the recipients put in, but we do this because some recognition is important for what they achieved for the taxpayers of their states.”
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