Tag: working families

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New Jersey Q1 GDP and Personal Income Continue to Trail the Nation

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  • Q1 real GDP growth at a 1.0% annual rate, half the US average of 2.0%
  • Personal income grew 5.8% fueled by a spurt in transfer payments, not growth of earnings.

 

the staff of the Ridgewood blog

Morristown NJ, On June 30th, the U.S. Bureau of Economic Analysis issued its report on the Gross Domestic Product by State and Personal Income by State, 1st Quarter 2023, covering the months of January through March 2023. Dr. Charles Steindel, the former Chief Economist of the State of New Jersey, analyzed the report for the Garden State Initiative:

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Time to Index New Jersey’s Income Tax Brackets for Inflation to Protect Working Families

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the staff of the Ridgewood blog

Trenton NJ, Republican senators called for action on their plans to save New Jersey taxpayers from suffering state income tax increases next year due to inflation after the Treasury Department estimated the cost of “tax bracket creep” at $543 million in FY 2023.

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Paramus Republican Majority Introduces Borough Budget ,Cutting Spending and Tax Increases

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the staff of the Ridgewood blog

Paramus NJ, the newly elected Republican majority is pleased to announce a new budget for the Borough of Paramus. The budget will cut the former Democrat majority’s spending increase by more than half and cut the average tax increase per home nearly 7.5% without cutting municipal services.

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