Despite April revenues that are lower than projected from the state, the head of State Senate Democrats says he's continuing on a path to a tax cut plan, and he's not agreeing to a millionaire's tax hike to fund it. Senate President Steve Sweeney says he's not going to rule out a tax cut until he gets all the numbers.
The upside for the Assembly Democrats who are pushing a millionaire's tax hike is tremendous according to one political expert. Fairleigh Dickinson University political science professor Peter Woolley says the only true downside is that Governor Chris Christie would veto it.
State Senate President Steve Sweeney's property tax cut plan does not include a millionaires' tax increase even though he supports the idea. He knows where Governor Chris Christie stands on the issue of a millionaires' tax hike so Sweeney says including one would be pointless and political.
New Jersey has roughly 16,000 millionaires and chances are you aren't one of them which is likely the reason most polls shows the vast majority of Garden State residents support a millionaires' tax increase.
State Senate President Steve Sweeney insists his tax relief plan is different than the Governor's, and the two are not on the same page, but Governor Christie insists Sweeney is "overstating it."
March 26, 2012 For years the Democrats have been trying to get a millionaire's tax passed in New Jersey and thankfully for years, Governor Christie has been able to stop it. Now it could end up on a referendum with the New Jersey voters deciding, Since most New Jersey voters overwhelmingly favor the millionaire’s tax, they would probably win the vote but lose in the long run.
