The Democrats leading the legislature in Trenton are learning first hand how devious bankers are and that a “done deal” really isn’t until the paperwork is signed.
In his deal made with Senate President Steve Sweeney and Assembly Speaker Craig Coughlin yesterday evening, Governor Murphy agreed to raise the threshold for the so called millionaire tax to $5 million from the $1 million he originally proposed. That was to have meant that fortunate taxpayers would pay 10.75% of their income over $5 million to the Soprano State of New Jersey.
According to a sleep deprived source in Trenton, the fine print Murphy presented the legislature today set the millionaires tax to be triggered at $5 million, but for the 10.75% to be applied on the taxable income over $1 million. Sweeney and Coughlin made a deal that would require a wealthy taxpayer with $6 million in taxable income to pay New Jersey $107,500 in tax on the million earned above the threshold. The legislation Murphy presented would require that taxpayer to pay $537,500. Read the rest of this entry »
Assembly Minority Leader Jon Bramnick put his caucus in an untenable position.
By Art Gallagher
Governor Phil Murphy, Senate President Steve Sweeney and Assembly Speaker Craig Coughlin announced last night that the had a last minute budget deal to avert a state shutdown and that the legislature would pass the necessary bills this morning starting at 8am.
As of 9:45 a.m. the legislator and many staffers have been in Trenton for three hours, but the bills have yet to be drafted and some of the details…where the devil lives…are still being haggled over, according to a sleep deprived source who called this morning.
Governor Phil Murphy, Senate President Steve Sweeney and Assembly Speaker Craig Coughlin came to terms on tax increased in the New Jersey FY2019 Budget today, averting a shutdown of state government.
While the Senate and General Assembly will not vote on the budget legislation before the midnight deadline tonight, Murphy said that he will not close the government. Sweeney and Coughlin announced that their Chambers will be in session at 8:00 a.m. on Sunday morning. Read the rest of this entry »
The photo is of #NYC0071 showing the gear with buoys wrapped around the whales body. The fishing gear is inside its mouth, at the hinge of the jaw and wrapped around the top of its Rostrum/Head running across the middle of the blow hole. NOT GOOD! (Photo @araslich/@gothamwhale) pic.twitter.com/wBjGpryagk
The U.S. Coast Guard Station Sandy Hook and the NJ State Police enforced a safety zone for an entangled whale, believed to be a humpback, in the Raritan Bay this afternoon, according to an announcement by the Coast Guard.
Governor Phil Muphy’s office announced a press conference for 7:30 pm with Lt Governor Sheila Oliver, Senate President Steve Sweeney and Assembly Speaker Craig Coughlin. It is expected that the Democrat leaders of New Jersey’s state government will announce they have made an agreement for the 2019 fiscal year budget.
According to published reports the budget will an income tax increase to 10.75% on individuals and families with over $5 million income and a corporate business tax increase of 2.5% for two years, to phase out over the following two years.
The sales tax will not be increased, according to the reports.
Posted: June 30th, 2018 | Author:Art Gallagher | Filed under:New Jersey | Tags:NJ Budget | Comments Off on Murphy to hold press conference with Sweeney and Coughlin and 7:30 pm. Budget announcement expected
Governor Murphy, Senate President Steve Sweeney and Assembly Speaker Craig Coughlin were unable to agree on how much pain to impose on New Jersey taxpayers after four hours of negotiating today, meaning that New Jersey’s state government will very likely shutdown at midnight tomorrow.
InsiderNJ is reporting that Sweeney and Coughlin cancelled the legislative sessions that were to have occurred on Saturday, and schedule session for Monday. Senator Declan O’Scanlon told MMM that he had not yet been informed of a schedule change. Read the rest of this entry »
Senator Declan O’Scanlon (R-Monmouth County) announced that he will introduce two bills tomorrow in the NJ Senate tomorrow that, if enacted, would lessen the destructive aspects of a state government shutdown.
Governor Phil Murphy and the Democrat leaders in the legislature, Senate President Steve Sweeney and Assembly Speaker Craig Coughlin, are thus far deadlocked over their competing proposals to raise taxes on New Jersey residents, tourists and businesses. If they are unable to come to an agreement, and get the legislature to concur, by midnight tomorrow, the government will shutdown.
Monmouth County Sheriff Shaun Golden is warning County residents of the dangers that fireworks pose to the lives and limbs of residents celebrating our nation’s Independence over the Fourth of July holiday.
“The result of fireworks being handled in the wrong way can cause serious injuries,” Sheriff Golden said. “It’s important to know that the danger is not only limited to general Fourth of July fireworks. Even sparklers, which are now exempt from the state’s fireworks ban, should be kept away from small children, as they can easily cause harm.”
Robert A. Honecker Jr, Kim Guadagno, Benjamin Lucarelli and Manasquan Mayor Ed Donovan take the Oath of Office issued by M. Claire French
Former Lt. Governor Kim Guadagno was sworn in as the president of the Monmouth County 200 Club last night at the non-profit’s reorganization meeting at the Spring Lake Golf Club.
Founded in 1987 by area philanthropists, the Monmouth County 200 Club provides financial assistance to the families of first responders, police, firefighters, EMTS, first aid and others, who have been killed in the line of duty.
“The 200 Club of Monmouth County supports our women and men in uniform and their families when they need help the most,” said Guadagno. “I am proud of the work outgoing president Joe Thompson did, and I am excited about building on his efforts.” Read the rest of this entry »
Assembly Speaker Craig Coughlin and Governor Phil Murphy. NJGlobe photo by NIKITA BIRYUKOV
The Democrat debate in Trenton over which taxes to raise on New Jersey residents and by how much ended last evening with no deal. Voting sessions scheduled for today in the Assembly and the Senate where cancelled. Legislators were told to report to Trenton on Saturday.
If Governor Phil Murphy, Senate President Steve Sweeney and Assembly Speaker Craig Coughlin do not make a deal that is approved by the legislature by midnight on Saturday, New Jersey’s state government will shutdown for the second consecutive year.
Governor Murphy wants to increase income taxes on millionaires and the sales tax on everybody. Sweeney and Coughlin want to raise taxes on businesses to the highest in the nation, expand the sales tax to internet purchases, real estate sales, and impose a new tax on vacation rental homes and Airbnb rentals.
The Democrats leading the legislature in Trenton are learning first hand how devious bankers are and that a “done deal” really isn’t until the paperwork is signed.
