TRENTON – Governor Chris Christie is now able to save the income tax reciprocity agreement with Pennsylvania, thanks to health benefit reforms enacted since the FY17 budget passed.
In September, the State Health Benefits Commission and Plan Design Committee identified and enacted healthcare reforms to save State taxpayers over $200 million for Calendar Year 2017 ($100.5 million for Fiscal Year 2017).
Nov. 21, the Governor signed bipartisan legislation, S-2749/A-4328, to streamline and modify the State’s pharmacy benefits system – a move that will save State taxpayers up to an additional $200 million.
“This action will save State taxpayers hundreds of millions of dollars in health care benefit costs, and I’m proud my administration was again able to work with elected officials from both sides of the aisle and many labor union representatives to achieve these savings,” Governor Christie said. “By addressing a potential $250 million budget deficit from growing healthcare costs, we are now able to save an income tax reciprocity agreement with Pennsylvania that protects tens of thousands of hard working New Jerseyans from having to pay more income taxes.”
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