NJ lawmakers advance 'millionaire's tax' measures
(AP) - Legislation that would restore New Jersey'sso-called "millionaire's tax" has advanced in both houses of thestate Legislature.
Democrats said Thursday that reinstating the increased tax forthose making $1 million or more would provide funds needed torestore property tax rebate checks for senior citizens andeliminate prescription copay increases for seniors and disabledcitizens.
But Christie has vowed not to sign a budget that includes thehigher tax.
The nonpartisan Office of Legislative Services has said thatincreasing the tax from 8.9 to 10.8 percent would raise $637million next year.
The increase would apply to about 16,000 taxpayers.