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(TRENTON) – Assembly Budget Chairman Vincent Prieto today questioned the math behind a proposal by the Governor to implement a 10 percent tax cut which only benefits the wealthy, during a press conference held by the Democratic Legislative Leadership following the Governor’s State of the State address.

Prieto released the following statement:

“The governor’s math is a seriously flawed.

“The numbers simply don’t add up.

“Under the governor’s proposal, a person earning $50,000 in New Jersey would see a saving of $80.50, while a person earning $1 million would see a savings of $7,265.75.

“Where is the savings-across-the-board in that? Where is the fairness in that? Where is the responsibility to ALL residents in that proposal?

“The governor continues on his crusade to further enrich millionaires, while ignoring his obligation to the residents who are in most need of our assistance in this troubled economy.

“As chair of the Assembly Budget Committee, we will review this proposal carefully.”