The White House is encouraging student loan borrowers to continue to apply for debt relief, despite a legal setback that puts loan forgiveness on hold for now. Late Friday, a federal appeals court issued an order blocking any debt relief while it considers a motion from six Republican-led states to block the program after they appealed a previous court decision dismissing their lawsuit. The appeals court could rule as early as this week on whether to issue an injunction or dismiss the case. The Biden administration says the court’s temporary order did not prevent the filing or review of the 22 million applications that have already been submitted.
Days after the IRS adjusted federal tax brackets to account for inflation, state Sen. Anthony Bucco (R-Morris) is calling on state legislative leaders to advance his bill that would index New Jersey’s tax brackets to inflation, which he says would save taxpayers money and follow the lead of 37 other states. The bill moved out of a Senate committee last spring but has not been considered by either the full Senate or Assembly.
New Jersey workers will keep a bit more money in their take-home pay, thanks to changes in the contribution rates for the state’s temporary disability and family leave insurance programs. The state says contribution rates have been declining over the past three years largely due to increasing fund balances. Collectively, New Jersey’s roughly 4 million workers will save about $223 million per program next year or an average of $111.50.
