Gov. Phil Murphy did not rule out a veto of the budget Democratic lawmakers introduced Monday.
“The budget introduced today falls short on the principle of tax fairness. It leaves us without the stable and sustainable revenues to secure the investments we seek to make in our people and our state,” Murphy said in a statement. “It makes unnecessary cuts to valuable programs while increasing spending on non-vital ones and eliminates our first deposit in a decade into the state’s empty Rainy Day Fund, leaving New Jerseyans less prepared for an economic downtown. So, at this point, as I have stated again and again, every option is on the table.”
The legislative budget does not include the millionaire’s tax sought by Murphy. It also eliminates a number of other tax hikes sought by the governor.
Lawmakers are expected to vote on that budget on Thursday.
It’s not clear what Murphy will do once the bill reaches his desk.
“I will continue to work with Senate President Sweeney, Speaker Coughlin, the respective budget chairs, and leadership teams so we can, together, enact a stronger and more fiscally sound budget,” Murphy said. “And, through this budget process and beyond, I will continue advocating for tax fairness, a New Jersey that puts the middle class ahead of the special interests, along with sound fiscal practices that will provide stability and set our state up for long-term success.”