As if the more than $700 million of tax increases in the Fiscal Year 2021 budget signed by Governor Murphy this week wasn’t enough, New Jersey residents will be paying more at the gas pump as a 9.3-cents-per-gallon increase goes into effect tomorrow.
Senator Thompson said now is the time to fill up the tank as the regressive gas tax increase will boost the price per gallon by almost 10 cents tomorrow. (©iStock)
“Get out there now and fill your tank,” said Senator Sam Thompson. “The timing of this increase couldn’t be worse, but there is never a good time to pile yet another tax on the backs of families in this tax-happy state.
“This increase of almost 25 percent comes as New Jerseyans continue to suffer financially and emotionally from the coronavirus and overly aggressive restrictions mandated by the Governor, and before the ink has dried on an inflated budget that bumps spending to never-before-seen levels.”
Thompson, a member of the Senate Budget and Appropriations Committee, voiced concern that residents are being taxed to the breaking point.
“The gas tax is a regressive tax that hits lower-income residents the hardest. These are the people who can least afford it,” the Senator said. “Combined with the recent 30 percent toll hikes on major roadways, including the Turnpike, Garden State Parkway and Atlantic City Expressway, the impact is magnified.”
The same workers were hit with a massive payroll tax increase starting earlier this year.
“There was a six-fold increase on payroll deductions that had been capped at $86 for workers. All workers will pay more, and some will pay as almost $500 more,” said Thompson.
“I don’t know how much more our residents can take.”
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