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New Jersey Lawmakers Pass Child Tax Credit, Sales Tax Holiday

June 29, 2022, 10:54 PM

New Jersey’s lowest-earning families could receive up to $500 per year for each child under the age of six under a new tax credit program rubber stamped by state lawmakers on Wednesday.

The proposal, expected to be signed by Gov. Phil Murphy (D) by the end of the week, was among several tax measures approved by state lawmakers in Trenton as part of a $50.6 billion budget for the fiscal year that starts July 1.

The record budget includes $2 billion in property-tax relief checks for homeowners and renters and a $6.8 billion pension payment. Other legislation lawmakers approved would ...