$500 Gas Rebate Proposal Needs Acted On Now, Republicans Say

State Sen. Ed Durr said his proposal to give New Jersey families a $500 tax credit to partially offset high cost of gas prices and soaring inflation should be acted on immediately.

Durr’s proposal, Senate Bill 2290 and its accompanying bill in the State House (3704) would provide $1.5 billion of tax relief to New Jerseyans, according to a press release.

The funds exist to cover the proposal without burdening New Jersey residents, Durr said.

“New Jersey families are getting hit by the double whammy of high gas prices and the worst inflation in 40 years,” he said in the release. “At the same time, Governor Murphy has taken billions more in taxes from New Jerseyans than he budgeted. That’s the people’s money, they need it to pay their bills, and we should give it back. There shouldn’t be a single Democrat in New Jersey who opposes putting $500 back in people’s pockets right away.”

One of Durr’s colleagues, Sen. Steven Oroho, also called for quick action on the proposal.

“We’re calling on our Democratic colleagues to convene a session to pass the bill without delay,” he said in the release.

The money could be used for other things besides the skyrocketing cost of fuel, added Assemblyman Bill Wirths, the sponsor of the state House legislation.

“With toll increases across the state thanks to Governor Murphy, the tax credit is needed for more than just gas,” he said. “This is a matter of affordability. Money needs to be put back into people’s pockets because Murphy has been hell-bent on taking money out of people’s pockets the past few years.”

The Gas Price and Inflation Tax Credit Act would provide a $500 refundable income tax credit to families whose income is fewer than $250,000 when they file their 2021 New Jersey tax returns, according to the press release. Taxpayers who already paid their 2021 taxes would “automatically receive” $500 from the State when the legislation is enacted, the press release continued.

Gov. Phil Murphy appears willing to find ways to ease the burden that the high gas of cost is taking on New Jerseyans, with NJ.com quoting him as saying he’s “open to any creative idea on inflation and, in particular, on gas.”

Should the federal government temporarily suspend its gas tax? Should New Jersey temporarily suspend its gas tax? Have rising gas prices caused you to change your driving habits?

We've put together an informal survey about the current gas price situation in New Jersey and whether it's forcing residents to change their driving habits. Feel free to fill out the survey here. The survey closes on April 6.

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