Democrats wrangle over which taxes to hike as budget nears

TRENTON, N.J. (AP) — Democrat Phil Murphy is set to unveil his first budget as New Jersey’s governor.

Murphy’s speech on Tuesday is likely to offer a glimpse of how he plans to achieve his campaign promises, such as higher pensions payments and school funding. Murphy, a Democrat, campaigned on raising the income tax on incomes over $1 million and closing corporate tax loopholes as a way to raise revenues With a friendly, Democrat-led Legislature at his side, Murphy might be expected to get his budget through with few if any hurdles, but that’s not how things are shaping up. Some Democrats worry that raising taxes could make the costly state less affordable.