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October 9, 2020
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New Jersey Ups Taxes And Takes On New Debt
Kuting Feng
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No matter who becomes president each state needs to plan its own budget for next year.
New Jersey has just announced broad tax increases and over $4 billion dollars of new debt. It's trying to offset the impact of this year's lockdowns.
NTD's reporter Paul, spoke with the co-author of the economic outlook report "Rich States, Poor States," Jonathan Williams.
He's chief economist and an executive vice-president at the American Legislative Exchange Council. I asked him what the new debt will mean for New Jerseyans going forward.
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