NJ senator proposes reviving millionaires' tax

(AP) - One New Jersey lawmaker wants to revive asurcharge on the state's highest wage earners to help balance thestate budget.State Senator Shirley Turner of

TRENTON - (AP) - One New Jersey lawmaker wants to revive asurcharge on the state's highest wage earners to help balance thestate budget.

State Senator Shirley Turner of Trenton introduced a billWednesday to permanently raise taxes on residents earning more than$1 million a year.

Turner's bill would raise the income tax rate from 8.97 percentto 10.75 percent for every dollar earned over $1 million, with theextra revenue directed toward property tax relief.

The Democratic lawmaker's proposal comes a day after RepublicanGovernor Chris Christie proposed a $29.4 billion budget thatcontains no tax increase for the wealthy.

There was no immediate word on whether Senate President StephenSweeney or Assembly Speaker Sheila Oliver support the proposalDemocrats failed to enact a similar tax proposal last year.

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