Assembly Dems: Time to look at the millionaire’s tax…again

TRENTON – The Assembly Democratic leadership said they were not surprised Gov. Chris Christie did not call for an income tax cut as he did last year, with Assembly Speaker Sheila Oliver (D-34) of East Orange, saying that was “never realistic to us in the Legislature.”

However, given what Congress and President Obama agreed to as part of the fiscal cliff negotiations, the Assembly Democratic leaders called for a “re-examination” of the millionaire’s taxes, as some nearby states have done.

“We have been promoting that during the governor’s entire tenure. If it could  work in Washington, I don’t know why it can’t work in this building. We certainly believe it warrants re-examination here,” Oliver said.

Assembly Majority Leader Lou Greenwald (D-6) described the millionaire’s tax as “a tax shift from property taxes.”

Christie has vetoed the millionaire’s tax in prior years.

While no other specific plans were provided at the press conference, Democrats called for finding “new opportunities to generate new revenues.”

“We have to be very innovative,” Oliver said.

Assembly Dems: Time to look at the millionaire’s tax…again