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Christie Wants to Cut N.J. Top Income-Tax Rate to 6%

New Jersey Governor Chris Christie. Photographer: Tim Larsen/Office of the Governor via Bloomberg
New Jersey Governor Chris Christie. Photographer: Tim Larsen/Office of the Governor via Bloomberg

Sept. 30 (Bloomberg) -- New Jersey Governor Chris Christie said he wants to lower the state’s top income-tax rate to 6 percent from 9 percent to boost economic growth.

The Republican governor, who took office in January, said he hopes to make the tax cut before the end of his four-year term. Christie said the state economy benefited in the 1980s and 1990s, when the top rate was 6 percent.

“That’s what my goal is, and I hope to get there over my first term,” Christie said today in a keynote address at a UBS conference on public finance in New York. “Six percent allowed for some tremendous economic growth then, and it can again.”

Christie said the state’s taxpayers are struggling after his predecessors raised taxes and fees 115 times in the eight years before he took office.

To contact the reporter on this story: Terrence Dopp in Trenton, New Jersey, at tdopp@bloomberg.net.

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

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