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Bad Credit Credit Creditres A $150 million plan to tax products made from petroleum - everything from gasoline to plastics - faces several legal hurdles, including problems with a proposal designed to keep companies from passing on the cost to consumers.

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Bad Consolidation Credit Debt The tax is one of several Gov. James E. McGreevey needs to balance his $26.2 billion state budget. But how the state will collect the money is still an unanswered question, despite McGreevey's promises that it would be made public two weeks after the budget proposal last month.

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Bad Company Credit Repair The proposed petrochemical tax was first described as a 3-cent per gallon increase in the gasoline tax. McGreevey quickly rejected any talk of a gas tax increase, saying the $150 million would be collected from all industries that use petrochemicals.

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Bad Card Credit Credit Administration officials are now working to define the new tax, a process fraught with legal and political problems.

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Bad Car Credit Loan Any new tax must not stifle the petrochemical industry, said Eric Shuffler, a top McGreevey aide.

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Bad Credit Loan Mortgage The state must also consider how the tax will hurt New Jersey companies if businesses in other states are not paying similar taxes, he said.

Auto Bad Credit Loan And it must not violate federal interstate commerce laws.

Bad Credit Mortgage Refinance Administration officials have reviewed possible ways to prevent companies from passing any tax increase on to consumers, but it is not clear it can be done, several sources familiar with the process said, speaking on condition of anonymity.

Bad Credit Refinance Whatever form it takes, it will not be a direct tax on gasoline, Shuffler said.

Bad Credit Mortgage Second "We will meet the governor's commitment that this is not a gas tax on New Jersey drivers," he said.

Bad Credit Loan Student The administration is sounding out various manufacturers, distributors and others likely to pay the new tax, McCormac said.

Bad Card Credit "We need to hear from all affected parties before coming up with a plan. That's only fair," he said. "There's many times unintended consequences and we like to know them up front."

Bad Credit Financing Overall, McGreevey's budget proposal raises dozens of taxes and fees, but asks for no direct increase in the sales or income taxes.

Bad Credit Home Loan Mortgage In addition to the petrochemical tax, new taxes will be put on houses that sell for more than $1 million and on cell phone towers. New fees will be charged for hospital visits, hazardous waste disposal and tires.

Bad Credit Loan People Existing taxes on cigarettes and real estate transfers will increase. So, too, will the costs to bad drivers in the form of surcharges.

Bad Card Credit Credit People The increases in taxes and fees will go to pay for improvements to county colleges, expanded day care and preschool programs, better child protection services and cancer prevention programs.

Bad Credit Guaranteed Loan The Legislature, which must approve the budget and any tax and fee increases by July 1, has started its public hearings.

Bad Credit Refinancing But lawmakers need specifics, said Joe Farren, a spokesman for Senate Republicans.

Bad Credit Equity Home Loan "We anxiously awaiting details regarding the governor's various tax increases, and certainly explanations as to why they are necessary," Farren said.

Bad Credit Loan Payday By John P. McAlpin
Trenton Times - 3/18/2004

Topic: Petroleum Industry

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