N.J. lawmakers wrangle over tax policy

New Jersey lawmakers have until the end of June to approve a new state budget. But Democrats and Republicans remain at odds over tax policy in the Garden State.

Assembly Budget Committee chairman Lou Greenwald said Tuesday Democrats support restoring the earned income tax credit for the state’s poorest residents. Gov Chris Christie reduced that credit last year.

“I don’t know why we would be increasing taxes on the poorest of the poor,” said Greenwald. “We have not seen the job growth in New Jersey by giving tax breaks to the millionaires.”

But Republican budget officer Declan O’Scanlon said the tax credit is still more generous than many other states.

“Some other states have no statewide plan. So we’re still pretty generous,” O’Scanlon argued. “And also a lot of these folks, they’re not paying any taxes to begin with, so it’s really a transfer of wealth.”

Some Democrats are also pushing for a tax surcharge on millionaires. That’s something Christie has repeatedly said he will not accept.