new jersey millionaire's tax

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.

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.