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Back to Home > Local & Regional > South Jersey > Monday, Jun 26, 2006 Posted on Mon, Jun. 26, 200... Spending and taxes top age
Budget talks started anew last night, with taxes and spending cuts expected to take most of legislators' attention as they headed into the final week.
Gov. Corzine and legislators opposed to his proposed sales tax increase remained in disagreement, although lawmakers are pushing forward Corzine's tax proposals that they do support.
On non-budget issues, the Assembly today is to consider extending a property-sale tax to commercial properties worth more than $1 million to raise $17 million, while a Senate panel will consider that bill and another Corzine proposal to rework how sales taxes are collected in Urban Enterprise Zones to raise $100 million.
Meanwhile, a Senate budget panel today will consider whether to ask voters to approve borrowing $230 million to pay for stem cell research grants in New Jersey.
The bill is being pushed by Senate President Richard J. Codey (D., Essex). It passed the Senate last year but was never considered by the Assembly, which has yet to consider it this year. If approved by the Senate budget panel, the bill can be considered by the full Senate.
The panel will also consider a bill to repeal a tax on cosmetic surgery that was implemented in 2004 but has never come close to raising the revenue that was expected.
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