Murphy's Budget Calls For Spending And Tax Increases

Mar 13, 2018

Governor Murphy delivers his budget plan to the legislature.

New jersey Governor Phil Murphy’s first budget plan is a major departure from the eight years of proposals made by his predecessor.

Democrat Murphy is calling for a millionaires’ tax, something Republican Chris Christie repeatedly rejected.

“The irrefutable fact is that we have a thousand more millionaires today than we did at our pre-recession peak, and I’m sure none of them are here for the low taxes. They are here because we can offer an unmatched quality of life.”

Murphy also wants to legalize and tax recreational marijuana.  And he’s calling for the sales tax to be raised back to 7 percent.

“The impact of the three-eighths of one percent sales tax decrease has been nearly imperceptible to the average New Jersey family, but has directly impacted our ability to provide better services to, and greater future investment in that same family.

The budget also includes new taxes on ride-sharing services and accommodations such as Airbnb.

Murphy wants to increase state funding for New Jersey Transit and public education.

He says his proposed budget will put the dream of a higher education within reach of more students.

“We will increase investment in our community colleges by $50 million, the first step in making community college tuition-free for all over the course of the next three years. “

Senate Minority Leader Tom Kean says Republican lawmakers believe the Murphy’s proposed spending and tax increases are irresponsible.

“All and all it sends a bad message to people looking to grow business, to raise a family, to stay in New Jersey.”

Assembly Majority Leader Lou Greenwald says lawmakers will now conduct a thorough review of Murphy’s proposals to determine if they’re achievable.

“We’re going to do what we always do. We’re going to evaluate. We going to look at all the proposals. We’re going to hear from the public. And we’re going to make educated decisions that make New Jersey competitive.”