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 budget crisis.

“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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