Gov. Philip Murphy said the tax would help make up shortfalls caused by the pandemic, but Republicans warned it would lead to an exodus of wealthy residents.
Source: New York Times
Deal Reached in N.J. for ‘Millionaires Tax’ to Address Fiscal Crisis
Published in Coronavirus (2019-nCoV), Coronavirus Aid, Relief, and Economic Security Act (2020), Coughlin, Craig J (1958- ), Federal Taxes (US), High Net Worth Individuals, Murphy, Philip D (1957- ), New Jersey, Politics and Government, Sweeney, Stephen M and Taxation
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