Christie asks N.J. lawmakers to turn tax increase into cuts
Whether it takes a day, a week or months for New Jersey lawmakers to pass a tax cut, the outcome would be the same: no relief until at least 2013, if then.
Governor Chris Christie, a Republican, conditionally vetoed a measure backed by Democrats to raise the income-tax rate on those earning $1 million or more a year. He sent the bill back and convened a special legislative session yesterday with an appeal to produce a levy rollback.
“A bipartisan tax-cut plan is on all of your desks right now,” Christie said in remarks to lawmakers yesterday. “Let’s show our state we can work together and finish the job before we leave.” Tomorrow is a U.S. holiday, Independence Day. (Dopp and Young, Bloomberg)