Wednesday, May 25, 2005
HALLELUJAH!! IT'S A MIRACLE!
Seems NJ has found the funds to continue tax relief!! Miraculously, NJ would have $400 million more than initially planned for property tax relief for the 2006 budget (which begins July 2005).
Acting Governor Cody, originally facing a $4 billion deficit, proposed cutting tax rebates and not increasing state aid for cities and schools. That proposal was very unpopular. Now, NJ has learned that it would receive about 1.2 billion in unexpected revenue.
It is amazing how politicians can always come up with money when their careers or the political futures of friends is threatened. With a governor's race in the wings this November, the Democrats, including Cody, certainly do not want anything like tax relief take backs to stand in the way of victory. Thank God it is an election year!