Thursday, September 17, 2020 12:06 PM EST
By MIKE CATALINI, AP
TRENTON, N.J. (AP) — New Jersey Gov. Phil Murphy says he and fellow Democratic legislative leaders have agreed to raise income taxes on millionaires while also giving about 800,000 families a $500 tax rebate. Murphy announced the deal Thursday alongside Assembly Speaker Craig Coughlin, Senate President Steve Sweeney and Lt. Gov. Sheila Oliver. The agreement fulfills a core campaign promise Murphy made of raising taxes on the wealthy. Murphy says the rebate would go to single people with at least one child and earning up to $75,000 and to families making up to $150,000.