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Bad Credit Credit Creditres Gov. James E. McGreevey yesterday denied there is a gasoline tax increase hidden in his proposed state budget. Industry observers, however, remained skeptical.

"We are not doing that bad in New Jersey. In California they are already paying more than $2 per gallon, " Cielo said. John Pucher, a Rutgers University public policy professor for more than two decades, said New Jersey gasoline prices are "much too low." "We are one of the lowest states in the nation when it comes to gas prices, " Pucher said. Pucher suggested that instead of finding ways to lower the cost of gasoline, the governor and legislators in Trenton should increase the tax on gas. Currently, New Jersey residents pay a total of 33 cents per gallon in state and federal taxes. Increasing the tax on gas would augment the state government's budget to fix and build new roads, resulting in less traffic congestion.

Bad Consolidation Credit Debt The $26.26 billion proposal calls for more than $1 billion in new taxes, including a $150 million levy on the petrochemical industry.

Nor did the governor hint at whether his budget proposals, to be announced on Feb. 4, would freeze aid to towns and school districts for a second year. Mr. McGreevey had seized on the property tax issue, along with auto insurance, in his years of campaigning, from his unsuccessful race for governor in 1997 until his election in 2001. While Gov. Christie Whitman had lowered income taxes, he said, New Jersey residents were paying the highest car insurance and property tax rates in the nation.

Bad Company Credit Repair McGreevey said yesterday the new tax was not a stealth gas tax and would be applied to all petroleum-based products - everything from Vaseline to Bic pens to gasoline.

42 along party lines. Republicans supported the wage hike and estate tax reform, and Democrats opposed it, evidently preferring to keep the issues alive as election fodder. vote supermajority because the tax provisions exceed the amount called for in the 2006 budget reconciliation. The compromise legislation was crafted to attract bipartisan support, as Democrats want the wage hike but not estate tax reform, and the Republicans want reform but not the hike.

Bad Card Credit Credit "It would be a profound misnomer to confuse this with a gas tax," McGreevey said. "Gasoline is a specific product. This is a tax on a wide range of petrochemicals."

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Bad Car Credit Loan Members of the petroleum industry said the proposed tax sounds much like the existing 4-cents-per-gallon wholesale tax on gasoline with a new name.

State fiscal officers from about 30 states told NCSL for the February budget update that revenue collections are below budget forecasts, with 12 reporting collections below revised estimates. four states report that either the governor or a member of the legislature has offered tax increase proposals. However, some officers said it is too soon to know whether their states will consider tax increases.

Bad Credit Loan Mortgage "It's the same as the existing tax. Same tax, different name," said Hal Bozarth, executive director of the Chemical Council of New Jersey.

Auto Bad Credit Loan "It's assessed at the wholesale level and passed through to all the end users, like drivers and those who heat their homes with oil. The vast majority of the oil in the state is consumed by cars, so the vast majority of this tax will be paid by the motoring public."

Bad Credit Mortgage Refinance Administration sources said there is a good reason for that: The original plan had been to raise the wholesale gas tax by 3 cents.

Bad Credit Refinance But Tuesday morning, just hours before McGreevey delivered his budget address, his senior staff got cold feet - worried that the governor would be tarred as a hypocrite for boosting the wholesale gas tax after he rejected a 12.5-cent increase in the retail gas tax as being unfair to working families - and the budget proposal was reworded, the sources said.

Bad Credit Mortgage Second The revision forced a delay in the printing of budget documents for lawmakers and the media.

Bad Credit Loan Student While governors have in the past taken weeks to release details of announced tax changes, McGreevey was given three extra weeks to prepare this year's budget.

Bad Card Credit He grew testy when pressed yesterday for details about the new tax, at one point snapping, "I said, that's my answer."

Bad Credit Financing McGreevey said the levy will be structured so businesses have to bear the burden, but ultimately "companies will have to make a business decision" on whether to pass the tax on to consumers.

Bad Credit Home Loan Mortgage Jim Benton, head of the New Jersey Petroleum Council, said despite the administration's protests to the contrary, the tax will be passed on to consumers.

Bad Credit Loan People "You don't stay in business if you don't recover the cost of doing business," Benton said.

Bad Card Credit Credit People Bozarth said New Jersey has already lost 40 percent of its chemical manufacturing jobs because of the high fees imposed by the state, and he took offense at McGreevey's claims the tax was to offset environmental degradation.

Bad Credit Guaranteed Loan "Since 1988, our members have reduced their air emissions by 78 percent, while production has increased by 26 percent," he said.

Bad Credit Refinancing The petroleum tax is one of several controversial financial maneuvers McGreevey wants to employ to balance the budget.

Bad Credit Equity Home Loan The governor also wants to raise the cigarette tax by 45 cents to $2.50 per pack, which would generate an estimated $135 million. In addition, the governor wants to borrow $1.5 billion backed by future revenue from the cigarette tax increase and higher fines on bad drivers.

Bad Credit Loan Payday The state wouldn't begin paying off the bonds until 2006 - after McGreevey runs for re-election, meaning those buying cigarettes in 2014 will be paying off the bonds used to finance state services in 2004.

Bad Credit Repair The governor also wants to raise an additional $90 million by making new car buyers buy four-year registrations. The governor said the money was needed to finance the revamped motor vehicle agency.

Bad Credit Home Loan Uk But those upgrades are to be funded by higher fees established last year, and the agency has long been a profit center, with the state collecting hundreds of millions of dollars a year more from motorists than it costs to serve them. So drivers buying new registrations will, in effect, be subsidizing other state expenses.

2nd Bad Credit Mortgage The governor defended the moves as necessary to fund "a historic investment that will improve the quality of life for our citizens" without raising sales or income taxes.

Bad Credit Loan Unsecured His budget promised more money for schools, colleges, towns, students, businesses, seniors, the handicapped, veterans, cancer patients, cultural organizations, Hispanic groups, religious organizations and health care.

Bad Consolidation Credit Loan By Michael Jennings
Trenton Times - 2/26/2004

Topic: NJ Legislature & Politics

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