New Jersey’s governor is making another pitch for a millionaires tax
New Jersey Gov. Phil Murphy plans once again to propose enacting a millionaires tax, according to a person familiar with the matter, likely renewing a simmering dispute with fellow Democratic leaders.
The proposal calls for lifting the top marginal tax rate to 10.75% from 8.97% for tax filers earning $1 million or more, this person said. Currently, only tax filers earning $5 million or more pay the 10.75% rate. The proposed millionaires tax, reported earlier by the Record, is estimated to bring in an additional $447 million...
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