Christie tells Legislature of his latest tax plan

    Gov. Chris Christie has vetoed a millionaire’s tax increase and says it is time to give New Jersey residents a tax cut.

    The Republican laid out his plan Monday to a special session of the Legislature. Christie ordered it two days ago during his ongoing struggle with the Democrat-controlled Legislature over the principles and politics of taxes.
    The governor says his line-item budget vetoes have created a $650 million state surplus — and that one-third of it should be used to pay for property tax cuts.

    Democrats wanted to increase taxes on people who make more than $1 million to pay for a bigger property tax cut for others.

    It’s the third straight year they have tried to hike income taxes on high earners — and the third year the Republican has vetoed it.

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