SUPPORT TO RAISE TAXES ON WEALTHY TO PAY FOR PENSIONS

New Jersey voters largely support increasing the taxes on the wealthy to help close the unfunded pension liability gap. Roughly two-thirds of voters support the “millionaire’s tax” that Gov. Chris Christie has refused to bring back. It would bring in an estimated $723.5 million over a three year period. The state is making a pension payment, but not at the level of a previous agreement, which has brought about litigation with the unions.