Phil Murphy on Welfare & Poverty
More affordable housing; more Earned Income Tax Credit
The Earned Income Tax Credit encourages and rewards work by providing a tax credit to working and middle class families. Because the EITC puts money in the pockets of people who spend it immediately and locally, every dollar that we spend on the EITC
creates $1.50 to $2 in economic activity. NJ currently provides an EITC at 30 percent of the federal award level. Phil Murphy would raise the state EITC to 40 percent of the federal reward level, which would create almost $180 million in new economic
activity. It would also make our tax code fairer across all income levels.
NJ has among the most expensive housing in the nation. For 15 years, the courts have been misused to effectively stop the development of new affordable housing. Gov. Christie
has cut much needed aid to seniors and low- and middle-income NJ residents struggling with the nation's highest property taxes. We must support the development of new, affordable housing while adhering to a smart, sustainable growth model.
Source: 2017 New Jersey Gubernatorial website, Murphy4NJ.com
, Sep 19, 2016
Page last updated: Jun 30, 2020