The Latest: Murphy sticks to pledge to hike taxes on wealthy
WASHINGTON (AP) — The Latest on New Jersey business and political officials’ annual trip to Washington (all times local):
Democratic Gov. Phil Murphy says he remains committed to raising taxes on millionaires.
Murphy spoke Thursday at the New Jersey Chamber of Commerce’s annual event in Washington.
His recommitment to raising taxes on the wealthy is significant because it comes despite Democratic Senate President Steve Sweeney’s reluctance. It also comes in the face of uncertainty over how the federal tax overhaul will affect state revenue.
Murphy promised on the campaign trail to hike taxes on millionaires as part of his pledge to fund education and public pensions. Estimates show the tax could bring in $600 million in revenue.
The state Chamber of Commerce is more than eight decades old. It gives influential business leaders access to top elected officials.
Legalizing marijuana in New Jersey and Democratic Gov. Phil Murphy’s first budget are top conversations aboard the state’s annual cocktail party on rails.
Business leaders, lobbyists and politicians boarded the state Chamber of Commerce’s chartered Amtrak train to Washington Thursday. It’s part of an eight-decade-old event that gives business leaders and lobbyists extended and unguarded access to the state’s top elected officials.
Democratic Assemblywoman Annette Quijanao says she’s still reviewing legalizing marijuana, a top priority for the governor. Democratic state Sen. Bob Gordon say he’s a “no,” but is open to considering recreational legalization.
Republicans sounded pessimistic about the proposal. Senate Republican Leader Tom Kean Jr. was seated next to his father, former GOP Gov. Tom Kean Sr. Kean Jr. says he’s opposed to legalization.
Estimates show legalization could bring in $300 million in new state revenues.
New Jersey business leaders, lawmakers and lobbyists are boarding a Washington-bound train for their annual schmooze-fest and pilgrimage to the nation’s capital.
The state Chamber of Commerce event on Thursday is more than eight decades old. It gives some of the state’s most influential business leaders almost unfettered access to New Jersey’s top elected officials during the nearly four-hour train trip from Newark to Washington.
Democratic Gov. Phil Murphy won’t be on the train himself. But he’s speaking during an evening dinner that also features Democratic U.S. Sens. Cory Booker and Bob Menendez along with members of the congressional delegation.
Murphy told reporters on Wednesday that he will sketch the outlines of his first budget, which he’s set to unveil later this month.