Democrats defy Christie by delaying tax cut in $31.7 billion budget
Defying Governor Christie’s veto threats, Senate Democrats took the first steps to approve a $31.7 billion budget that does not include an immediate tax cut and to impose a new millionaire’s tax in order to increase property tax credits for senior citizens and low-to-middle-income homeowners.
The Senate Budget Committee voted 8-5 along party lines to approve the budget bill, which sets aside $183 million in a special property tax relief fund that would be used to enable an additional property tax cut next April, but only if the Christie administration is on track to meeting its projected revenue growth of 7.2 percent, said Senate Budget Committee Chairman Paul Sarlo (D-Bergen). (Magyar, NJ Spotlight)
