Murphy says he cannot sign legislators' $36.5B budget
TRENTON, N.J. (AP) - New Jersey Gov. Phil Murphy says he can't sign the Legislature's $36.5 billion budget because it relies on what he calls unsustainable revenue.
The Democratic governor said Monday his administration went "line by line" through the Democrat-led Legislature's budget.
He says the plan leaves a $104 million deficit. Lawmakers dispute that and say project a less than $700 million surplus.
But Murphy is constitutionally required to certify revenue levels and disagrees with their figures.
He says their revenue cannot be relied on and wants to raise income taxes on millionaires and boost the sales tax.
Lawmakers instead sent a hike on business taxes, as well as savings from audits and a tax amnesty. There's general agreement over spending.
Murphy stopped short of vetoing the budget ahead of Saturday's deadline.