N.J. Democrats vow to push ahead with 'millionaires tax' vote

TRENTON — Despite a pre-emptive strike by Republican Gov. Chris Christie, Democratic lawmakers today vowed to push ahead with a plan to increase taxes on the state's wealthiest residents to pay for senior programs. Top Democrats who control the state Legislature said they will proceed with scheduled votes on Thursday on the "millionaires tax" -- an increase on income...

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Clik here to view.Eliot Caroom/For The Star-LedgerGov. Chris Christie speaks to seniors about rolling back cuts in health care at the Gregorio Towers in Linden today.TRENTON — Despite a pre-emptive strike by Republican Gov. Chris Christie, Democratic lawmakers today vowed to push ahead with a plan to increase taxes on the state's wealthiest residents to pay for senior programs.

Top Democrats who control the state Legislature said they will proceed with scheduled votes on Thursday on the "millionaires tax" -- an increase on income over $1 million to pay for prescription drug benefits and property tax rebates for seniors. Christie this morning said he would reverse course on his plan to raise prices on prescription drugs for seniors in state health care programs, canceling a proposed $310 deductible and increased co-pays.

Democrats questioned the governor's budget figures and stressed that seniors would still be shortchanged on their property tax rebate checks, a much more expensive budget item than the $55.5 million for prescription drugs. Christie has proposed cutting the popular rebate program by 75 percent, and converting the rebates to direct credits on residents' property tax bills.

Democratic legislators said the state's wealthiest residents are still not sharing in the sacrifice under Christie's proposed $29.3 billion budget. Christie has pledged to veto any tax increases, including the millionaires tax.

"We'll evaluate the governor's proposal, but our plan provides the means through true shared sacrifice to ensure senior citizens get the prescription drug help and property tax relief they need," said Assembly Speaker Sheila Oliver (D-Essex). "We will move forward with it as planned to guarantee property tax and prescription drug help is on the way to our most vulnerable residents."

Lisa Fleisher contributed to this report.

Democratic lawmakers advance ‘millionaires tax’