Is N.J. headed for a state shutdown? Murphy deal to tie property tax relief to millionaires tax rejected by another top Democrat.

nj.com | 5/10/2019 | Staff
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The other leader of the state Legislature has now rejected Gov. Phil Murphy’s proposal to pour another $250 million into property tax relief for New Jersey residents next year if lawmakers agree to his plan to raise taxes on millionaires.

That means Murphy and his fellow Democrats who lead the Legislature could be headed for another tense state budget battle in the coming weeks — and raises the possibility once again of a state government shutdown.

State - Assembly - Speaker - Craig - Coughlin

State Assembly Speaker Craig Coughlin, D-Middlesex, said in a statement obtained by NJ Advance Media on Wednesday night that “I do not share the governor’s view that middle-class property tax relief must be tied to another income tax hike, especially if there is, indeed, unanticipated revenue due to higher than expected tax receipts."

“We should return that money to middle-class property taxpayers with no strings attached,” said Coughlin, the second-highest-ranking state lawmaker in New Jersey.

Governor - Course - Action - Behalf - New

"I am hopeful that the governor will agree to this course of action and that we can work together on behalf of New Jersey’s working middle-class families,” the speaker added.

Coughlin’s comments come a few days after the highest-ranking state lawmaker, state Senate President Stephen Sweeney, D-Gloucester, dismissed Murphy’s proposal as a “gimmick" and said he remained against a millionaires tax.

Murphy - Tax - Rate - Percent - Income

Murphy is seeking to raise the gross tax rate to 10.75 percent on income of $1 million and above, which he expects to generate $447 million for the taxpayer-funded state budget set to begin July 1. He says he needs the money to provide more funding for education, transit, and public-worker pensions.

Murphy fought back against Senate President Stephen Sweeney's assertion that the governor's property-tax-relief-for-a-higher-millionaires-tax proposal is a gimmick.

Monday - Governor - Surge - Tax - Collections

On Monday, the governor announced that an unexpected surge in tax collections will give him an extra $250 million to work with. He...
(Excerpt) Read more at: nj.com
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