Tax on millionaires sparks fight between N.J. lawmakers, governor

    Legislative committees in the New Jersey Assembly and Senate have approved a measure to restore a three-percent income tax surcharge on millionaires.

    Legislative committees in the New Jersey Assembly and Senate have approved a measure to restore a three-percent income tax surcharge on millionaires.

    The votes came along party lines with Democrats voting in favor and Republicans against.

    Senate President Steve Sweeney (D-3rd District) says lawmakers will proceed with enactment of the millionaires’ tax even though Governor Christie insists he’ll veto the measure.

    “Because the Governor is wrong,” says Sweeney. “The Governor wasn’t elected King. He was elected Governor. He doesn’t have a problem with taxes going up on 99 and a half percent of the people in this state. And that’s what happening. When we cut aid to school and municipalities and programs tax increases come.”

    Governor Christie said it before and he’s saying it again. He will not sign as measure proposed by Democrats to restore a three percent income tax surcharge on millionaires in New Jersey.

    “I’m not signing a tax increase when there have been 115 tax increases over the last eight years,” says Christie. “Our economy is still in deep recession, we’ve seen no positive private sector job growth, and I am not going to raise taxes in this state at that time under any circumstances.”

    Sweeney says he’s not sure if there would be enough votes in the Legislature to override a Christie veto.

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