Murphy Gets Another Backer in His Run for Governor, Releases Tax Return

NJTV News | December 15, 2016 | Politics
The favorite to become the Democrats’ candidate to succeed Gov. Chris Christie next year picks up an important endorsement, and releases 2015 tax return

With almost a year to go before New Jersey’s 2017 gubernatorial election, Democratic front-runner Phil Murphy keeps piling up endorsements. Yesterday he added one from the influential Communications Workers of America District 1 union, which represents 70,000 workers in the Garden State.

“After seven years of angry, sneering, self-dealing meanness, Phil Murphy is a breath of fresh air,” said Hetty Rosenstein, director of CWA New Jersey. So far, 16 unions have announced their support of Murphy.

Murphy, a former Goldman Sachs executive and former ambassador to Germany, became the Democratic favorite after locking up the support of many of the party’s bosses and following the withdrawal from contention of Jersey City Mayor Steve Fulop and Senate President Steve Sweeney.

Reporters yesterday also got to see evidence of Murphy’s financial prowess in the form of his 2015 tax return. With an income of more than $7 million, mostly from investments, he and his wife paid $2.4 million in income taxes, for an effective tax rate of 32 percent. Property tax on a home in Monmouth County was $202,000. They gave $41,000 to charity, not counting what their family foundation gives.

“I started with nothing, less than nothing. I never thought I’d be in the position I’m in today. I worked hard and I got lucky,” Murphy said.

Read the full story on NJTV Online, a content partner of NJ Spotlight.