Murphy Opposed to Shore Rental-Revenue Generator
TRENTON – Governor Phil Murphy this morning shot down the seasonal rental tax idea floated yesterday by Senate President Steve Sweeney (D-3).
“That’s taking it out of the middle class. That’s the opposite of why we were sent here,” Murphy said, with his cabinet officers gathered around him on the 16th floor of 240 West State Street.
The Governor made his comments following a meeting with the cabinet, said to be a prep for a government shutdown if Murphy can’t come to a budget deal with legislative leadership.
He reiterated his preference for a millionaire’s tax as a key revenue generator for the 2019 State Budget, which Sweeney and Speaker Craig Coughlin (D-19) oppose. He also again mentioned that he’s willing to reexamine hiking the corporate business tax, but in opposing Sweeney’s proposal he has said repeatedly that he does not want New Jersey leading the nation with the highest rate in the nation at 12%.
Focus on excising the cash flows that pour out-of-State. Develop a local banking containment infrastructure and build healthy new internal cash flow dynamics. Recognize the Real Value of Real Property locally. Define a Real Living Wage. Rebalance the public and private sectors.