Senator Ed Durr called for the Murphy administration to support real tax relief for New Jersey families struggling with high gas prices and inflation after the Treasury Department announced a penny reduction in the gas tax.
Sen. Ed Durr called for the Murphy administration to support real tax relief for New Jersey families struggling with high gas prices and inflation after the Treasury Department announced a penny reduction in the gas tax. (Pixabay)
“The Murphy administration is only lowering the gas tax by a penny because that’s what the law requires them to do,” said Durr (R-3). “That might save a family 15 cents a week when they fill their tank. That’s not the kind of savings that will help New Jerseyans struggling with lingering high gas prices and the highest inflation in more than 40 years.”
The Murphy administration announced today that it collected $150 million more in gas tax revenues than projected last year. As a result of that overcollection and future projections, State law requires the gas tax to be reduced for the upcoming year.
Noting the minimal impact of that reduction on consumers, Durr repeated his call for the Murphy administration to get behind his plan, S-2290, to provide millions of New Jersey families with immediate $500 rebates to offset the continuing impact of high gas prices and the highest inflation in a generation.
Durr’s proposal, the “Gas Price and Inflation Tax Credit Act,” is one of a pair of “Give It Back” tax rebates proposed by Senate Republicans to return a portion of billions of tax overcollections to struggling New Jersey families.
“The immediate $500 rebate I proposed would help a lot of New Jersey families who can’t keep up as costs continue to rise,” added Durr. “It would make a much bigger difference than 15 cents.”
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