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Millionaires’ Tax Front And Center Again In NJ

Some leading Democrats in the New Jersey legislature are maneuvering to place a millionaires’ tax increase as a 2013 ballot question that would amend New Jersey’s Constitution. Assembly Republican Leader Jon Bramnick is firing back.

Money Stack
Don Farrall, Getty Images

“For the first time in 10 years, a majority of New Jersey voters believe the state is headed in the right direction,” says Bramnick. “The Democrats’ plan to place a constitutional amendment on the ballot to raise taxes is the wrong message at the wrong time. The new message being crafted by the Democratic majority may appear to be good politics, but it is bad policy at a time when we are finally starting to attract and maintain businesses in our state.”

Assembly Democratic Leader Lou Greenwald says, “Over 70 percent of the state supports the millionaires tax…….The Governor isn’t always wrong, but when he is wrong I’m not going to not act and not follow the beliefs of my party and myself just because he’s in disagreement.”

In his budget message last month, Governor Chris Christie was clear on his position as it pertains to a millionaires’ tax increase. He said, “Our standing in the last two years has improved somewhat – but not enough. We have stopped spending growth in its tracks. We have eliminated the special surtax that for a time gave New Jersey the highest marginal tax rate in the nation – and I am proud to have twice vetoed the effort to re-introduce it. And just so there is no mistake in my intention: I will veto any tax increase again.”

If Democrats are successful in getting the tax increase on the ballot as a referendum, Christie would have no say in the matter.

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