New Jersey Families Will Keep the Tax Relief They Deserve

Washington - U.S. Senator Robert Menendez (D-NJ) today applauded passage by both the Senate and House of a bipartisan bill to extend the payroll tax cut for more than 160 million workers through 2012. The typical New Jersey family will save more than $1300 this year now that the payroll tax cut will not expire at the end of February. The bill now heads to President Obama for his signature.

"The fight for tax relief is over and I'm extremely happy to say that middle class families in New Jersey won," said Menendez after voting in favor of the bill. "The typical New Jersey family will now keep more than $1300 of their hard-earned money this year. Thankfully, republicans were willing to put aside Tea Party politics and, together, we were able to do the right thing for our families and our economy."

Senator Menendez was a co-sponsor of the Middle Class Tax Cut Act of 2011 which would have not only extended tax relief through 2012, but would have expanded the pay roll tax cut to 3.1%. This bill was blocked by Senate Republicans. The bipartisan compromise to extend the current tax cuts for two-months, which was supported by 90% of the Senate, finally passed late December 2011, after House Republicans reluctantly voted in its favor.

According to the Department of Treasury , in 2011, an estimated 4.7 million New Jerseyans benefitted from the payroll tax cut, totaling $4.8 billion in tax relief.

New Jersey County by County tax savings for all of 2012 with extension of payroll tax cut.

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