Christie vetoes millionaires tax increase - New York News | NYC Breaking News

Christie vetoes millionaires tax increase

Posted: Updated:
TRENTON, N.J. (AP) -

Gov. Chris Christie has vetoed a millionaire's tax increase and says it is time to give New Jersey residents a tax cut.

The Republican laid out his plan Monday to a special session of the Legislature. Christie ordered it two days ago during his ongoing struggle with the Democrat-controlled Legislature over the principles and politics of taxes.

The governor says his line-item budget vetoes have created a $650 million state surplus -- and that one-third of it should be used to pay for property tax cuts.

Democrats wanted to increase taxes on people who make more than $1 million to pay for a bigger property tax cut for others.

It's the third straight year they have tried to hike income taxes on high earners -- and the third year the Republican has vetoed it.

  • New Jersey NewsNew Jersey News

  • Tuesday, May 21 2013 9:41 AM EDT2013-05-21 13:41:42 GMT
    A renegade goat and an auto accident snarled traffic on the Pulaski Skyway in northern New Jersey.
    A renegade goat and an auto accident snarled traffic on the Pulaski Skyway in northern New Jersey.
  • Tuesday, May 21 2013 7:33 AM EDT2013-05-21 11:33:20 GMT
    A New Jersey priest who resigned after admitting he worked unsupervised with kids despite a legal agreement that barred him from doing so is headed to court.
    A New Jersey priest who resigned after admitting he worked unsupervised with kids despite a legal agreement that barred him from doing so is headed to court.
  • Tuesday, May 21 2013 7:09 AM EDT2013-05-21 11:09:48 GMT
    New Jersey Transit is offering early getaway service for the start of the Memorial Day holiday weekend.
    New Jersey Transit is offering early getaway service for the start of the Memorial Day holiday weekend.
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2013 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices