TRENTON – Governor Phil Murphy would move to a threshold of $2.5 million on the millionaire’s tax, three sources told InsiderNJ.
He orginally wanted $1 million.
Senate President Steve Sweeney said he’d do $5 million.
Now the triumvirate of Murphy, Sweeney and Speaker Craig Coughlin huddled inside at 225 West State Street.
With everything else being equal (including CBT at 2 percent and a four-year sunset), Murphy would take $2.5 million, sources said, which would leave them all with a hole in the proposed $35.6 billion budget of about $175 million.