Senate Democrats Pitch Tax Relief Plan at Teaneck Town Hall

A plan pitched by Senate Democrats would reduce the property tax burden on New Jersey residents who make less than $250,000 by 10 percent, party leaders said at a town hall meeting in Teaneck.

Gov. Chris Christie has proposed an income tax cut, however, Senate President Steve Sweeney and Majority Leader Loretta Weinberg say a property tax break is what will truly benefit residents.

"When I campaigned and I was knocking on doors not one person has ever said to me, 'my income taxes are killing me.' What they are telling me is, 'I can't live here anymore,' Sweeney told a group gathered at the Thursday night.

According to a news release from Senate Democrats, a family earning the state's median income of $69,811 with the state average property tax rate of $7,758.20 would save $775.82 under their plan.

Democrats maintain Christie’s plan would be a boon to New Jersey’s richest residents.

“Under the governor's proposed income tax scheme, they [middle class families] would save just $97.78; meanwhile a millionaire would get a $7,265.75 tax break and those earning $3 million would save $25,200 a year,” the release said.

The Senate plan is an alternative to Christie’s plan and an Assembly plan the governor is expected to veto, NJ.com reported. That plan includes a so-called millionaires tax. Some who attended the town hall urged the party leaders to include the millionaires tax, however, Sweeney said it would only lead to a veto.

The various tax cut plans could face a setback as state revenue fails to meet targets, Bloomberg and NJ.com reported.

Editor's Note: Attached video clips were released by NJ Senate Democrats 

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