When The Chips Are Down
Nothing like a casino shutdown to focus the minds of a group of recalcitrant politicians. New Jersey has reached a budget compromise. Thousands of gamblers irate over the forced casino closings can stop sharpening pitchforks and go back to feeding slot machines.
"They'll be announcing the final elements later this afternoon," said the official, who spoke on condition of anonymity because the governor will announce the deal.
The deal includes a sales tax increase that would raise $1.1 billion a year, a different high-ranking Statehouse official said, speaking on condition of anonymity.
The deal came after a midday meeting between top legislative leaders and Gov. Jon S. Corzine, who has repeatedly urged them to compromise to close the state's $4.5 billion gap. He ordered the government shutdown after they failed to pass a state budget by the July 1 deadline.
UPDATE: Details of the compromise are out now. Surprise! Tax increase!
The deal will increase the state sales tax from 6 percent to 7 percent and use half the $1.1 billion that it will raise to help lower property taxes, which are among the highest in the nation. It allows the possibility that, in future years, the entire increase will go to property tax relief.
UPDATE: A Blog For All: A perfect, perfect capsule analysis:
However, more entertaining are the comments from folks who have friends or relatives who moved to New Jersey from New York. I'm not only someone who used to live in New York, but I used to work in the NYS Assembly for a member's office. As bad as things got in Albany while I was there (never passed an on time budget while I was there), they at least managed to maintain the facade that it was Democrats v. Republicans. New Jersey didn't even bother with that - Democrats were fighting amongst themselves over how much to tax us.
Tax hikes all around!
Other Links to this Post
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A Blog For All — Thursday, 6 July , 2006 @ 7:11 pm
By TC@LeatherPenguin, Thursday, 6 July , 2006 @ 1:06 pm
No matter how nuts our “leaders” up in Albany ever get, I can always look at all my family and friends who fled Staten Island for McMansions in Jersey and ask, “How much are you paying in water and property taxes? And you think you have it better out there?”
I have received dozens of “just shut up!” responses to emails the last few days, and have never had so many phone calls abruptly end when I start laughing the moment after they say “Hello?”
By Gaius, Thursday, 6 July , 2006 @ 1:11 pm
Man, you’re cold!
Good one!
By TC@LeatherPenguin, Thursday, 6 July , 2006 @ 10:59 pm
After “A Blog For All” adding his thoughts, I feel I can safely say “CUE NELSON MUNTZ!”