3/12/18- Murphy’s Promises Meet Budget Reality as New Jersey Pension Hole Looms

Murphy’s Promises Meet Budget Reality as New Jersey Pension Hole Looms

March 12, 2018 | Bloomberg.com

Governor. Phil Murphy and the New Jersey legislature are set to collide over Murphy’s first state spending plan. The plan includes a millionaire’s tax which is highly unpopular with Senate President Stephen Sweeney. Even if Murphy’s millionaire tax were to pass, it wouldn’t be enough to bridge the estimated $8.7 billion structural gap between revenue and expenses.

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