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millionaire’s tax

millionaire's tax

Wealth
Purestock, ThinkStock
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Millionaire’s tax hike – Take five

A millionaire's tax increase is likely to be included in the budget proposal expected to be introduced on Monday by Democratic leaders in the New Jersey Legislature.

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Wealth
Purestock, ThinkStock
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Sweeney proposes tax hike on income over $1 million

Senate President Steve Sweeney has introduced a bill raising taxes on residents earning more than a $1 million.

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New Jersey Senate President Steve Sweeney greets New Jersey Gov. Chris Christie
(Photo by Jeff Zelevansky/Getty Images)
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NJ millionaire’s tax – Do you support it? – poll

How many taxes does it take to fix New Jersey? According to State Senate President Steve Sweeney, adding a millionaire's tax to the long list of state revenue grabbers might help do the trick. 

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Pile of Money
Ingram Publishing, Thinkstock
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‘Millionaires tax’ – another increase possible in New Jersey?

Gov. Chris Christie has repeatedly vetoed bills to increase the income tax paid by New Jersey's millionaires and in his 2015 State of the State Address he promised to do it again if the legislature approved such a tax hike. That was welcome news to the business community, but the top lawmaker in the General Assembly said that it doesn't mean to issue is dead.

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Governor Chris Christie addresses budget shortfalls in Trenton.  (Governor's Office/Tim Larsen)
Governor Chris Christie addresses budget shortfalls in Trenton. (Governor's Office/Tim Larsen)
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Christie vetoes Democrats’ tax hike [AUDIO/VIDEO]

As he vowed to do, Gov. Chris Christie signed a balanced $32.5 billion state budget into law Monday, but not before he cut two tax increases Democrats inserted to generate revenue to fully fund their year's public employees' pension fund payment.

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The Statehouse
Governor's Office, Tim Larsen
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Legislature approves largest budget in NJ history [AUDIO/VIDEO]

The full New Jersey Senate passed a $34.1 billion state budget on Thursday, voting along party lines, with Democrats supporting the spending plan, while Republicans voted against it.

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NJ Senate President Steve Sweeney
State Sen. Pres. Steve Sweeney (David Matthau, Townsquare Media NJ)
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NJ Dems agree on millionaire’s tax [AUDIO]

To meet the state's obligations like fully funding the pension system, the two have agreed to propose a tax increase that would impact only the New Jersey residents earning $1 million a year or more.

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Assembly Chamber at the Statehouse
(Jeff Zelevansky, Getty Images)
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Assembly GOP blasts Dems’ budget plan [AUDIO]

With Democrats in the state Assembly and Senate recently unveiling alternative budget proposals, both of which hike taxes on New Jersey's wealthiest residents, Assembly Republicans held a State House press conference Monday to blast those plans.

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NJ Millionaire's Tax
Getty Images
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Jim Gearhart and Assemblyman Jon Bramnick discuss the millionaire’s tax [AUDIO/POLL]

Today, Assemblyman Jon Bramnick called Jim Gearhart to discuss the possibility of a Millionaire's Tax in New Jersey.

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NJ Assembly Speaker Vinnie Prieto
NJ Assembly Speaker Vinnie Prieto (David Matthau, Townsquare Media NJ)
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Assembly Dems propose millionaire’s tax [AUDIO]

Assembly Democrats unveiled an alternative budget on Thursday one day after Senate Democrats released theirs. While the two plans differ slightly, there is one common element: they both call for hiking taxes on the wealthy in New Jersey.

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