Campaign Coverage 2020

Murphy, lawmakers agree to tax rich, offer $500 rebates

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. 

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