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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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Chris Christie
Spencer Platt, Getty Images
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The politics of vetoing NJ tax hikes [AUDIO]

There are two tax increases included in the $34.1 billion Democrat-sponsored state budget approved Thursday, and Gov. Chris Christie has repeatedly promised to veto both of them. One veteran New Jersey political expert said there is an upside and a downside for the governor if he follows through on his veto vow.

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President Obama
President Obama (Alex Wong, Getty Images)
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U.S. Can’t Afford Across-the-Board Tax Hike, Obama Says

President Barack Obama says the economy cannot afford a tax increase on all Americans. He's calling on congressional Republicans to support an extension of existing tax rates for households earning $250,000 or less.

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