Christie vows to veto Dems’ proposed millionaire tax

    Time is a-tickin’ in New Jersey, where the budget is due Friday and the two parties are at odds.

    So what else is new? Here’s the latest: Democrats have moved forward with plans to tax the state’s millionaires. The two-year tax revenue would go to suburban public schools.


    Gov. Chris Christie intends to veto the proposal, as the Associate Press reports. The millionaire tax is separate from the state budget that’s being debated today, but both have created a rift between Christie an the Dems. The party’s proposed $30.6 billion budget is $1 billion higher than Christie’s proposal.

    Check back later for full budget details from Phil Gregory.

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