Senator Ed Durr has introduced the next round of Give It Back tax credits proposed by Senate Republicans through a new bill that would give New Jersey families $500 to provide relief from soaring gas prices and inflation.
Sen. Ed Durr introduced the next round of Give It Back tax credits proposed by Senate Republicans through a new bill that would give New Jersey families $500 to provide relief from soaring gas prices and inflation. (www.GiveItBack.us)
“Gas prices and inflation are both soaring, which is making it harder for New Jerseyans to fill their tanks and feed their families,” said Durr (R-3). “At the same time, Governor Murphy is sitting on billions of dollars of extra taxes he collected this year that he doesn’t need. We should Give It Back, every penny of it, to help New Jersey taxpayers who are struggling with the rising price of gas and the highest inflation in 40 years.”
Durr’s bill, the “Gas Price and Inflation Tax Credit Act,” will provide a $500 refundable income tax credit to families with an income less than $250,000 when they file their 2021 tax returns.
It is expected the new proposal, S-2290, will provide approximately $1.5 billion in gas tax and inflation relief to New Jersey families.
Durr’s new bill and the previously announced Give It Back tax credit would combine to return virtually all of the $4.6 billion of unexpected tax collections taken in by the Murphy administration this year.
“Unlike Governor Murphy, most people don’t have a taxpayer-funded car, with a taxpayer-funded driver, taking them from their mansion to work every day,” added Durr. “Our millionaire governor simply isn’t feeling the pain that the average family is feeling due to rising gas prices and inflation. How many billions does Governor Murphy need to keep in the State bank account when people are suffering? People need those extra tax dollars returned to them, and we have a plan to force Governor Murphy to Give It Back.”
New Jerseyans can tell Governor Murphy to #GiveItBack at www.giveitback.us.
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