Eric Holliday’s Tax Reform Plan represents a bold and comprehensive vision for fostering a strong and equitable economy in New Jersey. By combining tax reform with initiatives aimed at job creation, the plan promotes fiscal responsibility, economic growth, and fairness for residents and businesses alike.
The plan begins with property tax reform to relieve the burden on middle-class families, seniors, and small businesses. Eric Holliday supports capping property tax increases at the rate of inflation, expanding programs like the Homestead Benefit and Senior Freeze, and pushing for increased funding to reduce local property taxes.
Progressive income tax reform is another key component, aimed at creating a fairer tax structure. Eric Holliday proposes new income brackets for high earners, enhancing the Earned Income Tax Credit, and expanding child tax credits to support working families and boost economic mobility.
To stimulate economic growth, corporate tax incentives are tied to job creation. Eric Holliday’s “Hire New Jersey” program incentivizes companies to hire local residents, while targeted tax credits focus on businesses creating jobs in underserved areas. Tax incentives for corporations will prioritize tangible benefits such as fair wages and sustainable employment.
Modernizing the sales and use tax is also part of the vision, with plans to reduce the tax on essential goods and streamline sales tax codes for small businesses. Revenue from e-commerce transactions will be reinvested into state-funded programs.
Finally, Eric Holliday’s plan emphasizes environmental sustainability through a gradual carbon tax to reduce greenhouse gas emissions, with funds allocated to renewable energy and job retraining programs. Increased tax credits for businesses investing in green technologies will further promote clean energy solutions.
By integrating these reforms, Eric Holliday demonstrates a commitment to reducing financial pressures on families, fostering economic growth, and ensuring environmental sustainability, all while maintaining fiscal responsibility. His Tax Reform Plan offers a roadmap to a prosperous and equitable future for New Jersey.
