REPORT: MURPHY INTENDS TO TAX WEALTHY TO RAISE $447 MILLION FOR BUDGET

Governor Phil Murphy intends to tax the wealthy who earn over $1 million annually in order to plug a hole in the State budget.  Nj.com reports that Murphy wants to raise $447 million for the state budget with this special surcharge.  The higher tax rate will move from those who make over $5 million to those who earn over $1 million.