Gov. Murphy Delivers 2020 Budget Address
TRENTON — Gov. Phil Murphy delivers his second budget address to a joint session of the Legislature at 2 p.m. today.
Few specifics about the speech have been released by the Governor's Office as the back-and-forth over new taxes continued Tuesday morning.
Murphy has abandoned plans for an increase in the sales tax and will not propose a hike on tolls and fares. He was also hoping to bridge a $2 billion gap with the expansion of the millionaires' tax.
It was believed that Murphy had agreed with state Senate President Steve Sweeney, D-Gloucester, and Assembly Speaker Craig Coughlin, D-Middlesex, not to increase the sales tax, propose additional tolls or hike existing tolls in exchange for support of a millionaire's tax.
A spokesman for Sweeney said Tuesday morning that an agreement had not yet been reached.
The governor previewed the address during the New Jersey Chamber of Commerce dinner.
“Perhaps more than any other in recent memory, it will put forward significant and sustainable savings,” he said about the budget that “will speak once again to my commitment to tax fairness.”
Murphy tweeted that his budget will "strengthen and expand our middle class."
Murphy has called for further spending increases, but legislative leaders have said they won't support higher taxes.