State lawmakers to review Gov. Murphy budget compromise

Posted: Updated:
TRENTON -

New Jersey state lawmakers say they will review the latest budget compromise proposed by Gov. Phil Murphy.

In a joint statement on Tuesday Democratic Assembly Speaker Craig Coughlin and Senate President Steve Sweeney said they will give the offer "full consideration, along with other options we are evaluating."

Murphy laid out the proposal in a letter to the Democrat-led Legislature on Tuesday, just days ahead of a Saturday budget deadline. 

The governor is proposing an unspecified increase in the business tax, along with a "modest" hike in income taxes on people making more than $1 million and a two-year phased-in hike to the sales tax.

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Sweeney and Coughlin did not say what other options they are evaluating.

The governor has said he cannot sign a $36.5 billion budget legislators sent him last week because it doesn't have enough revenue.

Lawmakers passed a hike in the business tax, but Murphy instead has sought income and sales tax increases.

The budget deadline is June 30.

The Associated Press wire services contributed to this report.

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