Contact Us
Make My Homepage

NJ Democrats Say They’ll Try “Millionaire’s Tax”

New Jersey’s Assembly majority leader says Democratic lawmakers are going to try to pass a tax on earnings over $1 million — even though Republican Gov. Chris Christie has vetoed the concept before.

Money
Flickr User 401k

Majority Leader Lou Greenwald said Thursday that the tax surcharge would generate about $800 million, all of which would be used to pay for property tax credits for senior citizens who make less than $150,000 and other homeowners with incomes under $75,000.

Gov. Chris Christie has vetoed virtually the same plan in the past.

Greenwald also said that Democratic legislative leaders have agreed to present a budget with a separate property tax cut. But he said lawmakers want to hold the cut in escrow until it is clear the state can afford it.

(Copyright 2012 by The Associated Press.  All Rights Reserved.)

Best of NJ 101.5

Recommended For You

Around the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to http://nj1015.com using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for New Jersey Insiders quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive New Jersey Insiders contests, events, coupons, presales, and much more delivered to you for FREE.