Sweeney announces plans to introduce tax on millionaires
(AP) - State Senate President Steve Sweeney has announced plans to introduce a tax on millionaires in order to help the state make a nearly $3 billion public pension payment.
Sweeney disclosed his plans during Tuesday afternoon news conference where he also criticized Gov. Chris Christie's economic policies.
He presented few details about the tax proposal, but said he is willing negotiate with the governor, who used his line-item veto to kill a similar proposal last year.
Christie has been touring the state to push an overhaul of public pensions. He's proposed making a $1.3 billion payment into the fund, but Democrats want Christie to make the full payment agreed to in 2011.
Sweeney says Christie misled residents about how many millionaires have left the state.
Christie spokesman Kevin Roberts said increasing taxes is "a very confused" way to strengthen the economy.