Assembly Budget Committee OKs FY13 budget bill, sends it toward full-chamber votes

TRENTON  –  The budget bill cleared the Assembly Budget Committee today along party lines 8-4. It passed the Senate budget panel Thursday and heads toward a showdown in the full chambers Monday.

The $31.7 billion fiscal year 2013 budget includes $183 million for a property tax cut but raises cautions about the revenue not being there to support it. Earlier today in a separate bill, the Assembly Budget panel OK’d a millionaire’s tax bill.

But Republican Jay Webber labeled this budget bill essentially a $31.7 billion failure.

“We were eager moments ago to raise taxes,’’ he said in reference to the millionaire’s tax, “but this bill contemplates making New Jerseyans wait for tax relief.’’

But Democrat Troy Singleton called this a responsible budget that meets the state’s priorities.

“This is a budget, a good budget that everybody can live, a budget that takes care of the residents of the state of New Jersey,” Democrat Vincent Prieto said.

Earlier story:

Senate Budget Committee releases budget