Gov. Murphy to unveil NJ budget. Will tax hike be key?

Adjust Comment Print

Gov. Phil Murphy on Tuesday proposed raising and expanding the state sales tax, hiking income taxes on the wealthy and legalizing recreational marijuana under a budget plan he said represents a sharp break from the way the state was run the past eight years under a Republican administration.

"What's going to happen is when they all get in that chamber and they start raising taxes again and the governor starts signing new taxes, there will be a push back from the citizens of this state", says Republican Assembly Minority Leader Jon Bramnick. This announcement came as Murphy outlined his budget for the 2019 fiscal year. His budget increases investment in public school classrooms by $341 million and starts a four-year phased-in plan toward "fully funding our public schools". Murphy proposes the state get rid of that exemption. "But I am more confident than ever that we have what it takes to build a stronger, fairer New Jersey".

Marie Blistan, president of the New Jersey Education Association.

The state would also close a loophole for certain online sales where the seller has no nexus in New Jersey. His budget would triple funding to the agency - an additional $242 million. "We must be mindful that our decisions will have a real-life impact on the people of New Jersey". "It is now up to the states to lead", Murphy said.

Republican lawmakers say that the Office of Legislative Services is forecasting a budget surplus of $800 million to $1.5 billion. And he is banking on about $110 million as a result of what he called technical changes to the corporate business tax.

It's not a new tax as much as stricter enforcement of a tax on the books.

Murphy also called on legislators to help him raise the state's minimum wage on a path toward $15 per hour, allowing residents making the minimum to "participate in the economy with dignity".

"Maybe, a single mother working two jobs to secure a future for her children can afford to work just one, and spend more time with her kids". They say that they don't support raising income taxes after the federal tax law passed, which limited those state and local deductions.

Comments