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NEW JERSEY GENERAL ASSEMBLY

JOE PENNACCHIO
ASSEMBLYMAN, 26TH DISTRICT
MORRIS AND PASSAIC COUNTIES
101 GIBRALTAR DRIVE, SUITE 1-A
MORRIS PLAINS, NJ 07950
(978) 984-0922 Fax(978)984.8094
AsmPennacchio@njleg.org

COMMITTEE

APPROPRIATIONS COMMITTEE

For Immediate Release:
April 26, 2004

Contact: Amie Forgatch
973-984-0922 until 4 P.M.
973-769-1374 after 4 P.M.

Assemblyman Urges McGreevey Not to Impose A New Suburban Income Tax
Morris Plains, NJ -- Assemblyman Joe Pennacchio (R-Morris/Passaic) is urging Governor McGreevey not to break a campaign promise and raise the state's income tax on suburban dwellers. "This is more a suburban income tax than it is a millionaires tax," said Assemblyman Pennacchio. "Suburban dwellers and their neighbors will be picking up the tab."

Assemblyman Pennacchio has criticized the new tax as a classic "redistribution scheme." The governor, who is touting the increased suburban income tax as a millionaires tax, has failed to mention that the higher income tax will affect suburban dwellers at a vastly disproportionate rate to urban home owners.

The Assemblyman contends that 3% of the population already pays 43% of New Jersey's state income tax. The legislator also points out that many of these suburban taxpayers are small business owners who employ countless numbers of people. "This tax will be just another reason for them to leave the State of New Jersey," concluded the Assemblyman.

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