Christie Prods Lawmakers to Turn Tax Increase Into Cut
New Jersey Governor Chris Christie kicked off a special legislative session he ordered by asking Democrats to replace their proposed tax increase on millionaires with a cut.
Christie, a first-term Republican, said he conditionally vetoed a Democratic-sponsored measure that would have raised the tax rate on income of $1 million or more. That move let him amend the bill and return it to lawmakers for concurrence. His changes would turn that increase into a tax reduction.
“A bipartisan tax-cut plan is on all of your desks right now,” Christie, 49, told lawmakers today. “Let’s show our state we can work together and finish the job before we leave for this holiday weekend.”
Democrats, who control the Legislature, wanted to use the millionaire’s tax to pay for credits against local property-tax bills. Christie, who faces re-election in 2013, is seeking to fund a tax cut without increasing any levies.