Senate President Sweeney shoots down Gov. Murphy's millionaire's tax proposal

A top New Jersey lawmaker and fellow Democrat says Gov. Phil Murphy's proposal to use higher-than-expected tax revenue for property tax relief in exchange for a millionaire's tax is "dead on arrival."

News 12 Staff

May 8, 2019, 1:16 AM

Updated 1,839 days ago

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(AP) - A top New Jersey lawmaker and fellow Democrat says Gov. Phil Murphy's proposal to use higher-than-expected tax revenue for property tax relief in exchange for a millionaire's tax is "dead on arrival."
Senate President Sweeney said Tuesday in a phone interview that the Democratic governor's plan is "gimmick," and that he doesn't plan to go along with it.
Murphy said for the first time Monday that tax receipts are stronger than expected. He says he wants to cut property taxes by $250 million if lawmakers support his calls for higher income tax rates on people earning over $1 million a year.
Murphy didn't say exactly how much tax revenues were up, but the treasurer will brief lawmakers publicly next week.
Murphy is proposing a $38.6 billion budget.
(Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


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