Murphy’s Millionaire-Tax Pitch Gains Momentum in New Jersey
- New Jersey Transit, pension fund would get record cash boosts
- Building surplus, relying less on one-shot revenue sources
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Governor Phil Murphy’s third shot at a higher tax for New Jersey millionaires may be the charm.
The first-term Democrat proposed a record $40.9 billion budget with a tax boost for the rich to help underpin unprecedented spending on New Jersey Transit, pensions and schools.