In Shocking Revelation, GOP Candidate Tells Star-Ledger He Would Roll Back Gov. Murphy’s Millionaire’s Tax
TRENTON, NJ — In a shocking new pronouncement that shows how out-of-touch he is with the people of New Jersey, Republican gubernatorial candidate Jack Ciattarelli told the Star-Ledger that if elected he would “cut the income tax rate on the state’s wealthiest residents by 30%, essentially rolling back Governor Murphy’s millionaires tax.”
“Now we know for sure whose side Jack Ciattarelli is on — millionaires and not the middle class. Ciattarelli’s Trump-style giveaway to the rich would come at the expense of working families with income below $1 million per year, and it is unconscionable that at a time when so many people are struggling during the pandemic Ciattarelli’s focus is on taking money away from the middle class and giving it the wealthy,” said NJDSC Spokesman Phil Swibinski. “The revenue generated by Governor Murphy’s millionaire’s tax goes exclusively to tax relief for the middle class and working families, but they can say goodbye to that much-needed support if Jack Ciattarelli is elected. It’s more clear now than ever that Governor Murphy is the only candidate in this race who will invest in working families, not give our tax dollars away to the super-rich.”
Governor Murphy and legislative Democrats passed the millionaire’s tax in 2020, providing $320 million in direct tax rebates to hundreds of thousands of working and middle-class New Jersey families and securing resources to invest more deeply in our communities by increasing the top marginal tax rate on annual income over $1 million from 8.97% to 10.75%. All of those programs would be threatened under Ciattarelli’s extreme giveaway to the wealthy and well-connected.