Chris Christie Says Tax Refunds Would Cost $183M

Gov. Chris Christie says his plan to reduce the tax liability for homeowners would cost $183 million in the first year.

Speaking at a news conference in Long Branch Tuesday, Christie for the first time laid out the cost of his proposal, which after four years would reduce the income tax bill of most homeowners by an amount equivalent to 10 percent of their property tax bill.

Christie made the proposal on Monday, but did not give that detail.

He says that the plan will be a central part of his re-election campaign this year and if he wins, he expects lawmakers to adopt it soon after the November election if it isn't passed sooner.

His likely opponent, Democratic state Sen. Barbara Buono, has said the plan is irresponsible.

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