Two more legislators back millionaire’s tax

Gov. Phil Murphy’s bid to pass a millionaire’s tax has picked up two more votes in the State Assembly, with Nicholas Chiaravalloti (D-Bayonne) and Angela McKnight (D-Jersey City) announcing today that they would support a tax increase for households that earn more than $1 million annually – if Assembly Speaker Craig Coughlin posts it.

“Out of respect for Speaker Coughlin, Assembly Budget Committee chairperson Pintor Marin, and the legislative process, we did not feel a comment on the millionaires tax was necessary before June. We are willing to support a millionaires tax if posted; however, we know that we do not have the necessary votes in our caucus,” Chiaravalloti and McKnight said.  “We will continue to work with Speaker Coughlin in support of a budget that supports middle-class priorities and is fiscally responsible for all New Jerseyans.”

That brings Murphy to 11 votes in the Assembly – still 30 votes short of the number needed to pass the governor’s proposed budget.

It’s noteworthy that Chiaravalloti and McKnight did not offer an enthusiastic endorsement of a millionaire’s tax.