New Jersey Senate Republicans

08/25/2026 | Press release | Distributed by Public on 08/25/2026 08:47

Increase in State Tax Collections Should Be Returned to Taxpayers Says Amato, Rumpf and Myhre

News Flash

Increase in State Tax Collections Should Be Returned to Taxpayers Says Amato, Rumpf and Myhre

Carmen Amato Posted on August 25, 2026

Following the announcement that state tax collections increased by 6.4% in a 13-month period, the 9th Legislative District Delegation is calling for this revenue to be dedicated to property tax relief programs to reduce the cost of living in New Jersey.

During the 13-month period from July 2025 to July 2026, state tax collections increased by $3.194 billion as compared to the previous 13-month period.

In May of this year, Senator Carmen Amato, Jr., Assemblyman Brian Rumpf and Assemblyman Gregory Myhre introduced legislation (S-4306/A-5093) that would make permanent the additional $250 property tax relief benefits that have been paid to senior citizen homeowners and tenants under the ANCHOR Property Tax Relief Program.

The $250 senior ANCHOR benefit was eliminated in the new FY2027 State budget. Many seniors have also seen cuts to the NJ Stay checks or have been made ineligible for the program due to provisions in the State budget, which the 9th District Delegation voted against.

Amato, Rumpf and Myhre issued the following joint statement:

"Taxpayers, not Trenton, should be benefiting from increased tax collections.

"Unquestionably, this money should be returned to taxpayers who are struggling to pay property taxes, electric bills and groceries.

"Cuts to the ANCHOR and NJ Stay programs have hit seniors most severely.

"At the very least, the increased tax collections should restore funding to property tax relief programs on which seniors rely to make ends meet.

"After recently passing a record-setting $61.75 billion State budget, Trenton does not need any more tax revenue to provide services to illegal immigrants, bail out another mismanaged city as it did with Jersey City, fund political pet projects or expand the state bureaucracy."

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