Get Ready For a New Push by Murphy For a New Millionaire’s Tax
As we begin the New Year, Gov. Phil Murphy said his front-burner issues are very similar to last year’s.
On Thursday, Murphy said he remains committed to focusing on “stronger, fairer economic progress, social progress."
"I continue to be comfortable being tagged as a pro-growth progressive administration, cause that’s who we are," he said. “Don’t have a feeling that just because we turned the calendar to January that we’re going to some different place."
The governor confirmed that in the coming weeks and months he will once again push for implementation of a new millionaire's tax.
Murphy said increasing taxes for millionaires makes sense for many reasons.
“It’s the ability to prepare for a rainy day reality which at some point we’re going to have as a nation. It’s the ability to continue our obligation to fully fund public education," he said.
He said a new millionaire’s tax will also allow the Garden State to better fund NJ Transit and continue to make progress in stopping the opioid abuse epidemic.
“It’s the right thing to do. It’s fair. If we’re going to make all-time investments in the middle class, I don’t think it’s appropriate to make the very same people fund those investments, particularly when they were so short-changed in the last administration.”
Murphy stressed “this is not class warfare."
"This is asking the wealthiest among us to pay a little bit more, to level the playing field," he said. "People ask me all the time, you gotta problem with millionaires? I've got no problem with millionaires. In fact, I want more of them in New Jersey.”
Last year the governor’s push to implement a new millionaire’s tax fell short in part because lawmakers in the state Senate and Assembly expressed concerns about another big tax hike that could accelerate out-migration and have a negative impact on jobs.
He stressed recent polls find more than 70% of New Jerseyans support a millionaire’s tax, including a majority of Republicans.
Murphy also said in the coming year he will continue to support efforts to expand affordable housing, clean energy and voting rights.