New Jersey governor proposes tax hikes, legal marijuana in first budget

By Hilary Russ TRENTON, N.J. (Reuters) - New Jersey Governor Phil Murphy presented his first budget on Tuesday, turning sharply from the previous administration with sweeping proposals to hike taxes and spending on new initiatives that Republicans warned could drive businesses out of the already high-tax state. Murphy, a Democrat who took office in January after eight contentious years of Republican Governor Chris Christie, said that he wanted to raise taxes on millionaires, close loopholes for hedge funds and big businesses, legalize recreational marijuana and phase in free community college. "But I am more confident than ever that we have what it takes to build a stronger, fairer New Jersey." Murphy proposed lifting the state minimum wage to $15 an hour, boosting funding for education and the state's beleaguered NJ Transit system, and raising tax credits for low-income working families....

10 Published By - Yahoo! News - U.S. News Headlines - 2018.03.13. 23:13
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