Gov. Phil Murphy didn’t shy away from talking about tax hikes while running for office last year, so it should come as no surprise that theplan he proposed to lawmakers last week calls for increased taxes. In all, he’s looking to bring in an additional $1.7 billion to pay for more spending on things like , public-worker pension debt, and community-college .
Some of the Democrat’s tax proposals come right out of his campaign platform, including a higher income-tax rate for millionaires. But others go beyond what he discussed during the campaign, like the restoration of a 7 percent sales-tax rate that was in place for about a decade before former GOP Gov. Chris Christie talked lawmakers into reducing it slightly in 2016. In the end, Murphy says his budget is all about ensuring we get good value for the taxes we pay in New Jersey.