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.
Despite needing to plug a nearly $807 million budget gap before June 30, a hike in New Jersey's millionaire's tax is not likely to happen as a method for producing new revenue according to state treasurer Andrew Sidamon-Eristoff.
Today, Governor Chris Christie is expected to make good on his pledge to veto the millionaires' tax hike bill for the third time in three years. The measure received full legislative approval yesterday.
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