TRENTON, N.J. — The Latest on New Jersey Gov. Phil Murphy’s budget (all times local):
New Jersey Republicans are balking at Democratic Gov. Phil Murphy’s budget.
Senate Minority Leader Tom Kean Jr. slammed Murphy’s proposed increase in the sales tax from 6.625 percent to 7 percent. He says it would “hurt all” residents and also reneges on the 2016 deal between Republican Chris Christie and lawmakers.
That agreement led to higher gas taxes for transportation funding, but also lowered the sales tax.
Assembly Minority Leader Jon Bramnick says the budget raises spending by 6 percentage points above what towns can spend by law.
Murphy on Tuesday proposed a $37.4 billion budget that hiked taxes on millionaires and the sales tax among other changes.
New Jersey Gov. Phil Murphy wants to raise the state sales tax and extend its reach, hike income taxes on the wealthy and legalize recreational marijuana.
He also wants to increase the state’s contributions to public education by about 8 percent, or $1 billion.
The first-term Democratic governor is announcing those proposals Tuesday in his first budget address to the Democrat-led Legislature.
Murphy wants to raise the sales tax from 6.625 percent to 7 percent and include ride-sharing services and accommodations like Airbnb.
Under his budget plan, incomes over $1 million would be taxed at 10.75 percent, up from the top bracket of 8.97 percent.
His proposed spending plan of $37.4 billion is roughly 5 percent higher than former Republican Gov. Chris Christie’s final-year proposal.