Wimberly Supports Millionaire's Tax as Part of Compromise

Assemblyman Benjie Wimberly says he will support a millionaire's tax if it is posted for a vote, but he doesn't see enough support in the caucus for such a bill to pass.

TRENTON - Assemblyman Benjie Wimberly, who voted for the legislative leadership budget, which did not hinge on the millionaire's tax favored by Governor Phil Murphy, this afternoon said he prefers a millionaire's tax as part of the solution to the state's current [bubbleAutoLink text="budget crisis" id="31616"].

"Millionaire's tax," he told InsiderNJ, when asked to choose between Murphy's preferred revenue generator and the offering made yesterday by Senate President Steve Sweeney (D-3).

"But I welcome the compromise," added the veteran assemblyman from Paterson, who also voted the legislature's $36.5 billion budget out of committee.

The revenue generating CBT hike to 12% originally backed by Sweeney was part of a different bill, but related to the legislature's budget proposal rejected by Murphy.

Wimberly said he also supports some form of a hike on the corporate business tax (CBT), originally proposed by Sweeney. Earlier this week, Murphy also said he would factor a CBT alternation into his version of a compromise, which Sweeney and Speaker Craig Coughlin (D-19) rejected.

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