Greenwald defends Assembly Dems’ tax cut plan

TRENTON  – The Assembly Majority Leader defended his party’s property tax cut proposal today, which includes calling on millionaires to shoulder their share of the load.

On a day when Assembly and Senate Democrats released different property tax relief plans, the lack of a millionaire’s tax in the Senate version stood out.

But Assembly Majority Leader Lou Greenwald said later in an interview that pursuing a millionaire’s tax despite a threatened gubernatorial veto is about not surrendering one’s beliefs in the face of that threat, and recognizing that support for shared sacrifice has grown.

He called the governor’s across-the-board income tax cut plan “misguided,” and said even a respected financial source such as Standard & Poor’s has weighed in against the governor’s budget proposal.

“We’re on firm ground,’’ Greenwald said in regards to the Assembly property tax cut proposal, and called giving a tax break to the so-called 1 percent of the population failed public policy.

“I’m not going to give up my beliefs and values,’’ he said, and renewed a call on Republicans “to not blindly follow the governor.’’

The Assembly Budget Committee will convene the first legislative hearing into the governor’s proposed budget at 9:30 a.m. Wednesday, and concentrate on budget issues affecting human services, seniors and children. Greenwald defends Assembly Dems’ tax cut plan