TRENTON — Assemblyman Sam Fiocchi’s proposal giving a sales tax break on boat purchases to the middle class was unanimously approved by the Senate. The amended bill, S-2784, now converts a $20,000 cap on state sales taxes paid on high-end boats into an across-the-board 50 percent sales tax cut on all boats. The legislation returns to the Assembly for final approval.
“The original bill wasn’t fair to the middle-class and didn’t go far enough to boost New Jersey’s boating industry,” said Fiocchi, R-Cumberland, Cape May and Atlantic. “The middle class needs to be part of economic reform. They are an important consumer group with significant purchasing power. Now they will receive the same tax cut to purchase a family fishing boat as those who buy a more expensive one.”
During the Assembly voting session on June 25, Fiocchi proposed a floor amendment expanding the bill to include all boats and vessels. Democrats, including bill sponsor Bob Andrzejczak, blocked it by tabling his motion with a 44-29 party line vote. Gov. Christie conditionally vetoed the bill on Aug. 12, instead suggesting language offered by Fiocchi. On Sept. 24, the Senate concurred with the governor’s recommendations.
“Our marine industry was hit hard by the recession and Superstorm Sandy,” said Fiocchi. “A broad tax break on boat sales is something that will create jobs and generate economic growth in South Jersey. I anticipate the bill will receive the same support from my colleagues in the Assembly.”
Cape May – Governor Murphy says he doesn't know anything about the drones and doesn't know what they are doing but he does know that they are not dangerous. Does anyone feel better now?
