NJ Dems Pass $32B State Budget
Monday, June 25, 2012
The New Jersey Assembly passed a $32 billion budget that is on the way to Governor Chris Christie's desk. But the governor is likely to veto parts of the bill.
The bill passed both the Democrat-controlled Assembly and state Senate on party-line votes. And while much of the budget bill is similar to Christie's budget plan, it's the differences over tax cuts that will be the sticking point.
In a statement, the governor said, "After two years without raising taxes, the only way to feed the Corzine Democrats’ obsession is to hold tax relief hostage. I will not allow New Jersey to go back to the same failed policies that nearly put our state over a fiscal cliff. Tax relief for our hardworking families is long overdue and that is exactly what I will continue fighting for.”
The governor has held numerous Town Hall meeting to sell his budget plan to the public.
Christie wants to cut income taxes by 10 percent over three years with the first phase coming in January. But Democrats say they want cuts to property taxes instead — and only after it's clear the state can afford them.
Christie has until Saturday to sign a budget. He can also veto specific funding lines.
With the Associated Press