N.J. job losses show need for tax cut, Christie says

Gov. Chris Christie says while New Jersey’s loss of 8,600 jobs in March is disappointing, he doesn’t expect it will have an effect on revenue projections in his budget proposal.

 

Christie anticipates future job growth but says the drop last month shows the need to cut taxes.

“This is a good cautionary tale to the folks in the Legislature who decide they want to try to raise taxes on the people in New Jersey because they think this comeback is bulletproof,” Christie said Friday. “It’s not bulletproof. And that’s why we need to get to cutting taxes for the people of New Jersey as Senator Sweeney and I are proposing.”

Christie has proposed a 10 percent income tax cut. Senate President Steve Sweeney wants a 10 percent property tax credit. Assembly Democrats proposed a 20 percent credit with a surcharge on millionaires to help pay for it.