Murphy Pushes For Millionaire’s Tax In Property Tax Relief Plan

NEWARK (WCBS 880) — New Jersey Gov. Phil Murphy on Wednesday once again advocated for a tax increase for the state’s wealthiest residents.

Legislative leaders continue to be resistant to a “Millionaire’s Tax,” but Gov. Murphy remains committed to the idea.

Murphy says he wants the extra money from millionaires to add another $250 million in spending on direct property-tax relief programs to his fiscal year 2020 budget plan.

New Jersey’s Senate President Steve Sweeney has called the proposal a “gimmick,” but the governor disagrees.

“I don't think it's a gimmick to ask 19,000 people who can afford to pay it to fund property tax relief for millions in the middle class,” Murphy said.

Still, New Jersey lawmakers have debated the issue before and Murphy has lost.

A standoff over the same issue kept the state budget from being resolved until the 11th hour last year.

Murphy says he expects lawmakers to pushback against the idea again this year, but says that he hopes the experience from 2018 helps his cause.

"I’ve always found any job I’ve had, when you do something for the second time, you can look back on that first experience and gain important wisdom from it,” the governor said.

Both legislative leaders and the governor are Democrats but have often gone head-to-head on progressive issues such as a Millionaire’s Tax and legalizing recreational marijuana.