New Jersey is trying to reform its state tax code to make it simpler and fairer, and it has a plan to do it.
But for now, the state still has to pay about $15 billion a year in federal taxes on a $2.5 trillion federal debt.
In New Jersey, the only federal income tax is the payroll tax.
If the state wants to eliminate it, it needs to go through a legislative process.
But even that is difficult: the state doesn’t have the political will to pass legislation that eliminates the payroll taxes.
The legislature can pass a tax reform bill, but that would be a tough sell.
Instead, the legislature could pass a “compromise” to reduce the tax burden on middle-class and poor families.
It could reduce the corporate tax rate, reduce the sales tax, or reduce other taxes that disproportionately affect lower-income families.
This kind of compromise is a political possibility, but it would also be an act of mercy.
The state could also reduce its tax burden by eliminating exemptions for state employees, corporations, and certain types of business.
These exemptions would disproportionately benefit people at the very top of the income scale.
So far, New Jersey has eliminated all of these exemptions, and only a small percentage of its people pay them.
A new proposal in the Senate would allow these people to keep them.
The proposal has the backing of the state’s business community, but also the support of the governor.
It is unclear how much support the bill will have in the House, and whether it would pass the state Assembly, which is controlled by Republicans.
But the bill is gaining some momentum.
New Jersey could become the first state to enact a tax compromise with the goal of reducing its $2,5 trillion debt by $1 trillion.
Here’s what you need to know about tax reform.
