Christie Income Tax Cut Wins Most Support From New Jersey Rich, Poll Shows

Support for Governor Chris Christie’s proposed 10 percent income-tax cut is highest among wealthier New Jerseyans, a Quinnipiac University (78104MF) poll shows.

Registered voters back the plan, 56 percent to 33 percent, according to the survey released today. Support rises with earnings from 49 percent among those in households making less than $30,000 a year to 60 percent from those exceeding $100,000.

The first-term Republican proposed the rate rollback as part of his $32.1 billion fiscal 2013 budget. An analysis by Assembly Democrats showed that the wealthiest residents would gain the most. New Jersey had the third-highest per-capita income in the U.S., at $51,167 in 2010, trailing only Connecticut and Massachusetts, according to data compiled by Bloomberg.

“No sooner did Christie propose his 10 percent income-tax cut than legislative Democrats denounced it,” Maurice Carroll, director of the Quinnipiac University Polling Institute, said in a statement. “But -- so far -- he wins with the voters. Even nonmillionaires think the plan is fair.”

The survey also gauged support for President Barack Obama’s re-election campaign among Garden State voters, with 49 percent favoring the Illinois Democrat over 39 percent for Mitt Romney, the Republican former Massachusetts governor. The gap narrowed to 49 percent to 43 percent when Christie, 49, was named as a Romney running mate.

No 2012 Run

Christie said in October that he wouldn’t seek his party’s presidential nomination, and has scoffed publicly at suggestions he might be a vice presidential candidate.

“Putting him on the ticket helps the Republicans a little, but not enough, in New Jersey,” Carroll said in the statement. “If the measure of a vice presidential pick is carrying his or her home state, then Governor Christie comes up short.”

The survey also showed former Republican Pennsylvania Senator Rick Santorum losing to Obama 52 percent to 34 percent.

Poll takers surveyed 1,396 registered voters by telephone Feb. 21-27. The general results have a margin of error of plus or minus 2.6 percentage points.

Respondents approve of Christie’s job performance 55 percent to 38 percent, close to his high of 58 percent in October, according to the poll.

“Voters continue to give the gov good marks on how he’s doing his job in Trenton,” Carroll said in the statement.

Wealthy State

Under Christie’s tax-cut proposal, couples making $500,000 a year would save almost $2,781, while those bringing home $30,000 would pay about $45 less, according to the analysis by legislative Democrats. The governor’s budget counts on a 7.3 percent gain in revenue, the most since before the recession began in December 2007.

The spending plan is structurally unbalanced because it is built on “optimistic” growth projections, according to a Feb. 24 report from Standard & Poor’s. The budget also would spend $288 million from reserve funds and increases the reliance on one-time revenue sources to $1.6 billion, the report said.

“We think S&P should learn from its own experience and make more of an effort to avoid reaching premature conclusions,” Treasurer Andrew Sidamon-Eristoff said in a statement later the same day. “This governor has an unbroken record of creating responsible, balanced budgets without tax increases that have been built on solid, conservative revenue estimates.”

To contact the reporter on this story: Elise Young in Trenton at eyoung30@bloomberg.net

To contact the editor responsible for this story: Mark Tannenbaum at mtannen@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.