N.J. Democrats try again for tax surcharge on millionaires
Democrats in the New Jersey Legislature are advancing a bill that would impose an income-tax surcharge on millionaires to fund property tax relief for the elderly and the disabled.
Twice before, Democrats have proposed a millionaires tax only to see it vetoed by Gov. Chris Christie.
Republican Assemblyman Jay Webber urged them to stop.
“This bill perhaps once and for all proves that Democrats in this Legislature are one-trick ponies when it comes to their budget planning and proposals,” said Webber, R-Morris.
That drew a quick response from Assembly Budget Committee Chairman Vinnie Prieto.
“I don’t think Democrats are a one-trick pony,” said Prieto, D-Hudson. “I think we’re thoroughbreds that work hard for the working class.”
Prieto says the tax surcharge is necessary to get more money into the Homestead Benefit program, but Republicans say it would be a job killer.
The governor has promised to veto this bill if the Legislature approves it.
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