You dropped hints and he picked them up.
My goodness, I love a terrible acronym. The new program will take the place of the old Homestead Rebate, which is so 1976. ANCHOR is new, ANCHOR is hip, ANCHOR is what happens when Democrats lose seven seats during an election cycle.
ANCHOR extends the eligibility to nearly 2 million New Jersey households. Homeowners making under $250,000 annually will be eligible for rebates averaging $700. Renters making under $100,000 will get $250. The plan is to ramp up the program over a three-year period when the average rebate per household could hit $1,150.
The rebates aren’t coming from a newfound sense of fiscal prudence and cost-cutting. All this generosity is made possible because the state took in way more tax revenue than they projected, a key point the GOP was more than happy to point out. It does beg the question of what happens when the state isn’t making fat cash to the tune of an extra 3 or 4 billion a year.
Will ANCHOR be abandoned or reduced like Homestead so often was? Who knows, for now, the Dems are just happy to send you a check for $700 so you’ll like them again.
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