NJ residents would see some tax givebacks under budget deal

New Jersey

TRENTON, N.J. — New Jersey residents would get a number of tax benefits under an agreement the state’s Democratic governor and Legislature have announced.

Gov. Phil Murphy, Senate President Steve Sweeney and Assembly Speaker Craig Coughlin said Monday they had reached a deal on what they’re calling tax relief measures as part of the fiscal year 2022 budget.

The proposals could affect almost 1 million families, though the largest among them — a rebate of up to $500 to families — was previously announced last year as part of a deal to raise taxes on those making more than $1 million.

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