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New Jersey Governor Says He Will Veto Budget If It Does Not Include Tax Increases

Bloomberg

New Jersey Governor Phil Murphy said he’ll veto the state budget if it’s sent to him with the changes proposed last week by Democrats who control the legislature.

With 12 days until the budget deadline, the governor on Monday again called for raising more than $1.5 billion in revenue via a higher sales tax and new levies on millionaires and users of Uber Technologies Inc., Airbnb Inc. and electronic cigarettes. He’s also counting on legalizing and taxing recreational marijuana to balance his proposed $37.4 billion spending plan.

Murphy, a Democrat who took office in January, stood at Monday’s press conference between two charts detailing lawmakers’ proposals, including $672 million in corporate-tax surcharges.

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