July 9, 2015 |
Gov. Christie announced Tuesday that he had signed into law a measure that will increase a tax credit for New Jersey's working poor. He proposed the increase at the end of the state budget process last month. But the Republican governor wasn't the only one crowing about the law, which will increase the state's earned income tax credit from 20 percent to 30 percent of the federal credit, benefiting 500,000 households. "I am pleased the governor signed my bill to increase the tax cut for the working poor," Senate President Stephen Sweeney (D., Gloucester)
July 1, 2015 |
TRENTON - New Jersey lawmakers on Monday passed a measure recommended by Gov. Christie to increase a tax credit for the working poor that could boost the take-home pay of more than a half-million households. The move came after Christie rejected the Democratic-controlled Legislature's proposal to raise taxes on income exceeding $1 million. The Republican governor vetoed that bill Friday and instead proposed increasing the state's earned income tax credit (EITC) from 20 percent to 30 percent of the federal credit.
June 30, 2015 |
Two Chester County brothers are fighting back against federal regulators. The Powhatan Energy Fund, owned by Malvern natives Richard and Kevin Gates, made millions in the energy market in 2010. The government said it was too much. Late last month, federal regulators hit their energy fund and its associates with a $34.5 million fine for market manipulation. But the identical twins, who graduated from Conestoga High School in 1990, say they plan to ignore the fine, which will likely force the Federal Energy Regulatory Commission to take them to federal court.
June 28, 2015 |
TRENTON - Gov. Christie on Friday signed a $33.8 billion budget for the fiscal year that begins Wednesday, vetoing tax increases passed by the Legislature to fund the pension system but extending an olive branch to Democrats by proposing an increase in a tax credit for the working poor. Christie used his line-item veto authority to nix measures passed by the Democratic-controlled Legislature to raise taxes on income exceeding $1 million and on corporations, which Democrats said would have generated more than $1 billion in revenue.
June 12, 2015 |
WHEN THE Phillies went down to Georgia to scout Griffin High School's Cornelius Randolph, the scouts wanted to know who his hitting instructor was. A swing that pretty - one Phillies director of amateur scouting Johnny Almaraz says produced the "best bat in the country" among high schoolers - must have been through hours of training and mastering with a professional, right? Not really. Randolph never had a professional lesson. He did, though, spend countless hours in the batting cage with his father, Cedric.
June 10, 2015 |
Voorhees-based American Water Works has asked the New Jersey Economic Development Authority (EDA) for $164 million in tax credits to move its headquarters to Camden. The application is to be considered at Tuesday's meeting of the EDA at the Waterfront Technology Center in Camden. The EDA also will consider a request from a joint Rowan University/Rutgers-Camden board for $50 million to build a "health sciences" building in the city, according to the agenda. That building, on Broadway near Cooper Medical Center, would have classrooms, lab space and offices, and would house Rutgers-Camden's Center for Computational and Integrative Biology.
May 29, 2015 |
After two straight years of rejection, a proposed apartment complex for veterans in Chester County has received the tax credits it needs to move forward. Mission First Housing Group, the project's Philadelphia-based developer, said it plans to break ground at the site of the historic Whitehall Inn in East Vincent Township late this year or early next year. Construction of the development, which is to have 48 units available for veterans attached to the refurbished inn, is expected to take about a year.
May 17, 2015 |
A Pennsauken printing and packaging firm will receive $34 million in tax credits to relocate to and expand in neighboring Camden. Approved Friday morning, the deal for Contemporary Graphic Solutions is another by the New Jersey Economic Development Authority to help bring economic activity to the city. The company plans to also spend about $7.5 million in capital investment and add 56 full-time positions to its current staff of 170, according to a project summary with the agency.
May 12, 2015 |
WHAT IS THIS academic world coming to? Tom Brady gets caught with his air compressor on so now they're going to be teaching a four-credit course on "Deflategate" at the University of New Hampshire. UNH sports law professor Michael McCann designed the course, which according to its description, will be about "the interplay between those footballs . . . and the legal, regulatory and journalistic systems governing sports. " So, got to thinking: If courses can be offered in that, why not have some Philadelphia sports officials teach a course?
May 9, 2015 |
New Jersey State Sen. Raymond J. Lesniak (D., Union) introduced a bill Thursday that would freeze corporate tax-break programs until the state could produce reports assessing how effective they have been at creating jobs and growing the local economy. Lesniak said the legislation would create more transparency surrounding the $5 billion in tax incentives that the state's Economic Development Authority (EDA) has given in recent years to companies, many of which have been awarded the credits in exchange for relocating to Camden and other struggling cities.