N.J. 'millionaires tax' is approved by the Senate

Bill advances to Gov. Chris Christie, who has vowed to veto it

Tony Kurdzuk/The Star-LedgerView from above the New Jersey Senate Chamber at the Statehouse in Trenton in January.
TRENTON — The state Senate just gave final approval to a "millionaires tax" and sent it to Gov. Chris Christie, who has vowed to veto it.

“The governor talks about shared sacrifice; you can't leave out 16,000 people," said Senate President Stephen Sweeney (D-Gloucester). "If we're in this together, we're in it together, all New Jerseayns."

The millionaires tax passed the Senate 23-17. Earlier today, it passed the Assembly 46-32 . Both votes were strictly along partisan lines.

Democrats say the tax will provide $637 million to restore property tax rebates for seniors and the disabled that would be cut under Christie’s proposed budget. A bill that earmarks the millionaires tax revenue for the rebates and prescription drug programs also passed both houses.

Sen. Nia Gill (D-Essex) criticized the governor for putting the legislature in a position to make “a very cruel choice among our citizens.”

Republicans who were unified behind the governor’s opposition criticized the Democrats for not passing an extension of the millionaires tax as last year’s surcharge was expiring, November and December, when Democrat Jon Corzine was still the governor

Sen. Robert Singer (R-Ocean) called on his colleagues to vote down the tax proposal, saying it was another example of the kind of fiscal policy that has put the state on its current dire financial course.

“You can’t tax yourself out of problems. Haven’t we learned that?” Singer said. “Let’s stop taxing people out of existence. Let’s bite the bullet… for once in our life let’s do the right thing for the state.”

From the Statehouse hallway, staff in the governor’s office could be seen preparing a staging area for the governor’s planned immediate veto of the millionaires tax legislation.

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