VIDEO: Will Phil Murphy Raise Taxes On More Than Just Millionaires?

West Long Branch, NJ – Will Phil Murphy tax more than just millionaires?

"The Answer Is Yes." – Phil Murphy



During the Democratic Primary Debate, Phil Murphy admitted he would raise taxes on more than just millionaires to fund "multi hundred million-dollar investments." Here's the video and transcript:

Michael Aaron: Mr. Murphy, you’ve promised to fully fund the pension system, fully fund the school funding formula, expand pre-kindergarten, you’ve promised a more robust Homestead Rebate Program and a dedicated source of revenue for NJ Transit on top of the recent 23 cent hike in the gas tax. You said you would impose a millionaire’s tax. The last time it was done it was worth $500 to $600 million. You said you would legalize marijuana and tax it for an estimated $300 million. Are there other taxes you would raise to get the revenue necessary in order to keep your promises? 

Phil Murphy: Yes... The answer is yes. We've got a fully detailed plan that ties down to the penny that as you suggest those are significant investments. These are multi hundred million-dollar investments each in their own right. Even if they're phased in over a series of years.

Throughout the campaign, Phil Murphy has embraced higher taxes. He has endorsed a higher income tax. A higher sales tax. He wants to reinstate the estate tax. He wants higher business taxes. His policies would cause property taxes to skyrocket. And last week, Phil Murphy even embraced a report by Governor Florio calling for more highway tolls and higher fees at the MVC.

Background:

If Elected, Phil Murphy Has Promised To Increase Taxes By At Least $1.3 Billion (Observer NJ, 8/17/2017)

According To The Star Ledger, Phil Murphy Supports Raising The Sales Tax And Reinstating The Estate Tax

  • “The Democratic hopefuls were able to find common ground, especially when it comes to taxes. They support raising taxes on New Jersey's millionaires and agree the state should bring back an estate tax that's in the process of being phased out, as well as restore a recent cut to the state's sales tax.” (The Star Ledger, 5/12/2017)

Phil Murphy Has Pledged To Raise Income Taxes By At Least $600 Million (Politico NJ, 9/12/2017)

Phil Murphy’s Policies Will Cause Property Taxes To Skyrocket Across New Jersey

  • Phil Murphy has refused to embrace an extension of the interest arbitration cap, which will force property taxes to skyrocket if allowed to expire. (Editorial: Asbury Park Press, 9/1/2017)
    • Asbury Park Press: “Murphy’s arbitration cap copout” (Editorial: Asbury Park Press, 9/1/2017)
    • “Murphy is taking the coward’s way out, ducking for cover behind the task force to avoid saying what he’s likely thinking, that he plans to reward those unions for their support by dumping the cap.” (Editorial: Asbury Park Press, 9/1/2017)
    • “Prior to any cap on property tax increases, average property tax increases statewide reached 7 percent in some years.” (Bergen Record, 8/29/2017)
    • “The arbitration cap, which limits to 2 percent the raises that police officers and firefighters can win once their contract disputes are taken to binding arbitration, was passed with broad bipartisan support in 2010 and extended in 2014.” (Bergen Record, 8/29/2017)
    • “The last annual report found the cap is working” (Editorial: The Star Ledger, 8/27/2017)
  • Phil Murphy does not have a plan to lower property taxes: To date, most of [Murphy's] proposals call for increasing spending... He has said nothing about actually reducing the tax burden... All those proposals will end up costing taxpayers more.” (Editorial: Asbury Park Press, 8/4/2017)
  • Phil Murphy said he will not renew Chapter 78, the bipartisan worker-benefits reform law passed in June of 2011 requiring workers to pay more for their health benefits, causing property taxes to skyrocket across New Jersey as “state and local governments could be forced to once again pick up more of the cost of their employees’ health benefits.” (NJEA, 9/12/2017; NJ Spotlight, 7/14/2015)
    • Phil Murphy to NJEA: "The notion of Chapter 78, first of all it's not something I ever would have encouraged, signed, and it's something I would never renew, period, full stop.” (NJEA, 9/12/2017)
  • Phil Murphy told the NJEA he opposes privatizing education support professionals (ESPs) like custodial and security personal, restricting a municipality’s ability to constrain costs. (NJEA, 9/12/2017)
Phil Murphy embraced concept of more tolls, higher fees: Former Governor Jim Florio authored a report with a liberal-leaning Think Tank which calls on New Jersey to "add tolls, raise fees to fund transportation projects." Phil Murphy's spokesman responded to the report by saying they "greatly welcome" these ideas. (Politico NJ, 9/13/2017)
###