• 2020-09-24

When Gov. Murphy originally proposed his so-called 'millionaires tax,' he said it was designed to close a revenue gap in the budget.

However, last week, the governor announced that the revenue generated by this new tax would be spent in the form of rebates which families would receive just before the governor and members of the Legislature stand for reelection in 2021. The New Jersey Chamber of Commerce said at the time that politics had eclipsed good fiscal management.