TRENTON, NJ — The budget showdown between lawmakers and Governor Phil Murphy continued Thursday as Murphy remained steadfast in his crusade to raise taxes on New Jersey millionaires.
Murphy met with his cabinet to prepare for a government shutdown, in case 'logic doesn't prevail'.
The governor said he won't be happy to furlough thousands of workers and close state beaches ahead of the July 4th holiday, but he rejected democratic lawmakers' idea to tax short-term Jersey shore summer rentals as a way to generate more government revenues.
"This idea to me, it just doesn’t make sense at almost any level," he said. "I’m prepared to fight and go down with the ship."
Murphy appeared at a Trenton school Thursday to highlight the need for education funding within the budget.
Trenton's teachers union said the schools lack after-school programs, classroom materials and funding to hire more teachers.
"The kids deserve that funding period," Murphy said.
The governor has also said he may be forced to raise New Jersey Transit fares if the funding he requested is not passed by the legislature.
In addition to taxing shore rentals, the state legislature has proposed to tax corporations at a higher rate for four years. They also want to raise taxes the real estate transfer tax from 1 percent to 2 percent on property worth over $1 million.AlertMe