Sources: Cap Deal Done. Oliver not yet on board

Conflicting reports emerged from Trenton Saturday as the governor and the Democratic controlled legislature battled over tax reform. Sign Up

Conflicting reports emerged from Trenton Saturday as the governor and the Democratic controlled legislature battled over tax reform.

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Republican and Democratic sources say a deal between the governor and the and the senate to impose a cap on property tax increases is complete.

According to sources the deal would impose a statutory cap of 2 percent, but would exempt debt service, healthcare, capital improvements and emergency allocations.  The deal is set to be announced by the governor and the legislative leaders at 2 p.m, sources said.

The deal was first reported by The Star Ledger.

But while a deal between Christie and the senate appears to be complete Assembly Democrats Spokesman Tom Hester Jr. said Speaker Sheila Oilver was not yet on board.

“The Speaker has not been part of any closed door deal,” Hester said in a statement. “As the Speaker has said repeatedly, we will thoroughly vet any proposal. The Assembly Budget Committee will meet on Wednesday to consider proposed legislation that represents the Assembly plan.”

 Democratic sources called the cap a really good deal for everyone and said for the first time the governor had truly compromised. 

“I think there is enough here for everyone for to feel confident,” said a source with knowledge of the deal.

 

 

 

Sources: Cap Deal Done.  Oliver not yet on board