DEMOCRATS PLAN ON REINTRODUCING MILLIONAIRE’S TAX

Democrats plan on pushing a budget proposal and said they would be moving legislation to include a millionaire’s tax. Senate President Steve Sweeney said that the tax would only impact true millionaire’s, and would help fund school districts at the necessary level. The tax was once imposed during Gov. Jon Corzine’s time in office, but was more far reaching than this bill would be. Sweeney did not release all of the particulars, but did say the budget proposal would be bigger than the $29.6 million budget proposed by Gov. Chris Christie. Christie has vetoed a measure to get the millionaire’s tax reinstated before. A balanced budget must be passed before July 1 or there could potentially be a government shutdown.

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