Murphy's plan - Raise sales tax, business tax, some income tax

Republican leaders say the focus should be on reducing property taxes

Republican leaders say the focus should be on reducing property taxes

He has pledged to make investments that will make New Jersey "stronger and fairer" after eight years of Republican Gov. Chris Christie, who mostly swore off tax hikes and sought to control spending.

Bramnick said the Democratic-controlled Legislature will be repeating history with Murphy and Senate President Steve Sweeney (D-West Deptford) at the helm looking for ways to spend an anticipated budget surplus.

Murphy wants a 10.75 percent marginal tax rate on income over $1 million.

New Jersey Gov. Phil Murphy wants to raise the state sales tax and extend its reach, hike income taxes on the wealthy and legalize recreational marijuana.

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School aid would account for almost $15 billion in state spending, including the payment into the teachers' pension fund.

Murphy's budget would raise taxes by almost $1.6 billion in one of the country's highest-taxed states, while also increasing spending on education and transit.

Murphy also proposes to tax Airbnb-style short-term rentals and ridesharing operations such as Uber and Lyft. Murphy outlined a host of 2019 budget goals including upping funding for public schools by $341 million and New Jersey Transit by $242 million that he said could be funded through new taxes as well as scrutinizing more closely more than $8 billion in existing corporate tax credits. If Murphy's sales tax increase goes through, that would be 32 percent.

"You're going to see the Democratic Party do exactly what they did a decade ago, send us on a mission to higher taxes, more people leaving the state, more businesses either planning to leave or not entering the state".

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The budget proposes an additional $57 million in preschool funding, including an extra $25 million - bringing the total commitment to $50 million - to expanding preschool programs.

The increase in the sales tax would generate at least a half-billion dollars.

In 2016, Democrats struck a deal with Christie to cut the sales tax in exchange for an increase in the state's tax on gasoline to fund an exhausted Transportation Trust Fund. Last week, Mr. Sweeney announced a proposal to raise taxes on corporations.

The income tax proposal may face resistance even from his own party because of concerns that many New Jersey residents will be hit by the federal tax changes that cap deductions for state and local taxes at $10,000.

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The budget proposes $2 million to create a Center on Gun Violence at a New Jersey college.

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