Christie tells Legislature of his latest tax plan

In a special session before the state Legislature today, Gov. Chris Christie vetoed Democrats' plan to raise taxes on millionaires and reintroduced a property tax

TRENTON - In a special session before the state Legislature today, Gov. Chris Christie vetoed Democrats' plan to raise taxes on millionaires and reintroduced a property tax cut originally floated by Senate Democrats.

The initial plan called for a tax increase on earnings over $1 million.

The governor says he wants to take one-third of that revenue and give it back to the middle class.

Gov. Christie received a wave of laughter when he said the new plan is supported by both state Democrats and himself.

He says this is the kind of bipartisan legislative action that has given back to the state of New Jersey for the past two and a half years.

It's the third straight year they have tried to hike income taxes on high earners - and the third year the Republican has vetoed it.

The governor's opponents in the Legislature described Christie's actions as grandstanding and said they have no plans to play along.

Democrats also say that Christie's plan wouldn't deliver savings until next year and that money has already been put aside for a tax cut, but only if state revenues come in as strong as hoped.

Top Democrats dismiss Christie's tax cut plan

advertisement | advertise on News 12

Trending Video

Crowds come for the hard ciders and stay 1 East End: The Riverhead Ciderhouse
Police say two teenagers were shot just before 2 Police respond to possible shooting in Jersey City
Police say a woman accidentally drove into the 3 Police: Car slams into South Brunswick Library
4 VIDEO: Families of victim, suspect argue in Paterson court
Amanda Carolan is today's Scholar Athlete. 5 Scholar Athlete: Amanda Carolan

advertisement | advertise on News 12

Features

It's good to know you have Walt Kane Kane in Your Corner

It's good to know you have Walt Kane in your corner.

News 12 takes a look at the hottest Tech Check

Eric Landskroner has a look at the latest gadgets and biggest stories in tech.

News 12 On the Scene

Check out these exclusive videos from New Jersey celebs!

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE