N.J. Democrats try to enact "millionaires' tax" over Governor's veto
Monday, June 21st, 2010
Lawmakers in the New Jersey Assembly today will try to override Governor Christie's veto last month of legislation that would raise the income tax on millionaires.
Democrats control the legislature but would have to get support from Republicans to come up with enough votes for an override to succeed. Assembly Majority Leader Joe Cryan (D-Union) says the millionaires' surcharge is needed to provide funds to restore property tax rebates for senior citizens and the disabled.
“We hope that Republicans come to their senses and understand the importance of what we're doing,” says Cryan, “protecting a vulnerable population here in New Jersey.”
Seven Republicans would have to join Democrats to override the veto. Minority leader Alex DeCroce (R-Morris Plains) says that's not going to happen.
"There's absolutely no support for the millionaire's tax in my caucus,” says DeCroce. “No one in our caucus voted in favor of it the last time, and nobody will be changing their mind."
Assemblyman Joe Malone (R-Bordentown) says he does not expect any of his fellow Republicans to support the override.
“I think it's pretty clear to the vast majority of New Jerseyans,” says Malone, “that, if we raise taxes, it only has dire consequences in the long term. Instead of worrying about raising funds and doing additional things, I think we just need to cut our spending as much as we possibly can."
Republicans say raising the tax would cause more employers to leave the state.