The yearly sausage-making adventure that results in the state of New Jersey getting an annual budget is well underway, though as usual we won’t find out what’s actually going to come to a vote until a few days before the deadline. One proposal in it, from Governor Mikie Sherrill, to slash the overly costly StayNJ program that provides many affluent seniors with property-tax relief, is a good idea – though cutting back the program is going to have to overcome resistance from Assembly Speaker Craig Coughlin.
And Assemblywoman Katie Brennan has gotten the ball rolling on a bill (A5121) that would create new, higher tax brackets for New Jerseyans earning up to $10 million a year or more. A third bill (S4204 and A5039), sponsored by Brennan and state Senator Raj Mukherji, would prevent multinational firms from shifting profits overseas to avoid paying taxes in New Jersey. Both bills are also co-sponsored by Assemblywoman Shama Haidar. (See “‘Tax the Rich!’ Echoes Across New Jersey,” The New Jersey Democrat, May 5, 2026.)
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