Supporting New Jersey’s Economy.
New Jersey’s tax system aches for a long overdue overhaul, which strives to attract and retain families, businesses and jobs. Tom’s priority is establishing an environment that provides the predictability needed to invest, grow and prosper.
S2419: Eliminates New Jersey’s estate tax and repeals parts of the statutory law. New Jersey is only one of two states with both an inheritance tax and an estate tax – ranking the state among the highest rates in the nation.
S1914: Prevents municipalities from increasing user fees as a way of circumventing the 2% property tax cap.
S633: “New Jersey Economic Development Promotion Act,” streamlines and reorganizes State economic development statutes in order to promote administrative efficiency.
S614: Provides partial sales tax exemption for energy and utility service to certain manufacturers.
S617: Allows tax credits for development of qualified wind energy facilities in port district of Port Authority of NY & NJ.