Murphy offer of $250M in N.J. property tax relief if the gov gets his millionaires tax is flatly rejected by top Dem. ‘Stop the gimmicks,' Sweeney says.

nj.com | 5/7/2019 | Staff
lukealukea (Posted by) Level 4
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That was quick.

New Jersey’s top state lawmaker told NJ Advance Media on Tuesday morning he remains staunchly against Gov. Phil Murphy’s proposal to raise taxes on millionaires in the Garden State, even though Murphy is now offering to put an additional $250 million in property tax relief to residents next year if lawmakers agree to the hike.

Gimmick - State - Senate - President - Stephen

“It’s a gimmick,” state Senate President Stephen Sweeney, D-Gloucester, said in a phone interview. “'Watch me pull a rabbit out of my hat.' Taxpayers are smarter than that. It’s time to fix things and stop the gimmicks.”

The rejection comes 24 hours after Murphy, also a Democrat, announced at a town hall in Ewing on Monday night that an unexpected surge in tax collections would allow the state to offer more money for “direct middle-class property tax relief” if the state Legislatures signs off on the millionaires tax.

Gov - Phil - Murphy - Announcement - Monday

Gov. Phil Murphy made the announcement Monday as he faces pushback from state lawmakers on his plan to raise taxes on New Jersey's wealthy residents.

Democrats who lead the Legislature have so far been opposed to Murphy’s plan to raise taxes on millionaires, which would help pay for more funding for transit, education, and government-worker pensions. They say the state is already over-taxed.

Murphy - Monday - Offer - Pot

But Murphy said Monday his new offer hopefully “sweetens the pot."

The state’s other top lawmaker, state Assembly Speaker Craig Coughlin, D-Middlesex, was more tempered in his response Tuesday morning, saying he’s not ready to reach an agreement with Murphy.

Revenue - Returns - Treasurer - Revenue - Report

“While we are pleased to hear of better than expected early revenue returns, we will wait for the Treasurer’s revenue report next week," Coughlin spokesman Kevin McArdle said in a statement to NJ Advance Media. "The budget committee is still working through the budget process. Making any deal...
(Excerpt) Read more at: nj.com
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