The Latest: Lawmakers to review Murphy’s budget compromise
TRENTON, N.J. (AP) — The Latest on New Jersey’s budget (all times local):
New Jersey lawmakers say they will review the latest budget compromise proposed by Gov. Phil Murphy.
In a joint statement on Tuesday Democratic Assembly Speaker Craig Coughlin and Senate President Steve Sweeney said they will give the offer “full consideration, along with other options we are evaluating.”
They did not specify what those options are.
The statement comes after Murphy, a Democrat, proposed increasing the corporate business tax along with a higher income and sales tax.
Murphy has said he will not sign the $36.5 billion budget lawmakers sent him because the tax revenue contained in it wasn’t enough.
New Jersey Gov. Phil Murphy is proposing an unspecified increase in the business tax, along with a “modest” hike in income taxes on people making more than $1 million and a two-year phased in hike to the sales tax.
Murphy laid out the proposal in a letter to the Democrat-led Legislature on Tuesday, just days ahead of a Saturday budget deadline.
The letter was sent just after a meeting Murphy hosted in Trenton with legislative leaders was ending.
Lawmakers departing the meeting declined to comment on what happened in their discussions.
Murphy has said he cannot sign a $36.5 billion budget legislators sent him last week because it doesn’t have enough revenue.
Lawmakers passed a hike in the business tax, but Murphy instead has sought income and sales tax increases.