N.J. lawmakers go to work on Gov. Christie's proposed budget

03/31/2011 | Bloomberg Businessweek

Disagreement on whether to raise state income taxes on the rich was one of the first issues to surface as Democratic lawmakers started going through the $29.4 billion budget submitted by New Jersey Gov. Chris Christie. State Treasurer Andrew Sidamon-Eristoff repeated his warning that the governor is firmly opposed to imposing higher taxes on New Jersey's wealthiest residents. "History teaches us that tax increases in New Jersey never close deficits, they simply fuel more spending," he said.

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