Revenue Problems Reveal Christie’s Shaky Fiscal Foundation
(TRENTON) – Assembly Majority Leader Lou Greenwald (D-Camden/Burlington) released the following statement Tuesday on the latest revenue figures that show collections $230.3 million behind what Gov. Chris Christie forecast for this fiscal year:
“Today’s revenue report is the latest evidence of why Gov. Christie’s proposed income tax scheme is wrong for middle-class families.
“Not only does the Governor’s plan to shower $7,000 in tax break handouts to millionaires while giving crumbs to the middle-class, but it’s now becoming clear the governor has built his plan on a shaky foundation. New Jersey’s middle-class families need more than fuzzy math, a hope and a prayer. They need real property tax relief they can count on.
“By asking millionaires and billionaires to give up the tax breaks they have enjoyed during the past two years, the Assembly Democratic plan has a more fiscally responsible funding mechanism. As a result, our plan delivers real property tax relief to 95 percent of homeowners, not just a town hall slogan built on a house of cards.”