A spokesman for the Senate Democrats says the budget bill and the millionaires’ tax hike legislation will definitely be approved in committee today, tonight or early into tomorrow morning. A spokesman for the Assembly Democrats isn’t sure whether the Assembly Budget Committee will stay until both bills are put to bed or come back tomorrow to allow the panel to vote.

The most talked-about facet of budget negotiations has been tax cuts. Governor Chris Christie originally wanted a 10% state income tax cut for everybody. Feeling that idea favored the rich, Senate Democrats countered with a 10% property tax cut proposal and Assembly Democrats offered up a 20% property tax reduction plan, half of which would be funded with revenue from a millionaires tax increase.

 

Democrats plan to set aside $180 million for a to-be-determined tax cut at an unspecified later date that would be enacted only if revenues match Christie’s projections. The top Republican in the Assembly doesn’t think that plan is going to fly with the Governor.

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“That’s a really bad idea,” says Assembly GOP Leader Jon Bramnick. “You don’t say, ‘Hey, maybe you get a tax cut. Maybe you don’t.’ You know, that’s just bad business.”

Bramnick is confident Christie also thinks the delayed and uncertain tax cut plan is a really bad idea. He says, “I don’t think he’s going to wait six months for a tax cut. He doesn’t have a lot of patience for that kind of stuff. I don’t think he’s going to be patient. He wants a tax cut now!”