Christie's Budget Address

MY9TV.COM - Governor Christie unveiled his plan for the state's budget. The 32 billion dollar plan aids education, pension funds and includes an income tax cut. But state democrats say the governor left an important item out. Matt Alvarez reports.

From tax cuts to additional state aid to education, Governor Chris Christie says the New Jersey comeback has officially begun..

The Governor announced a proposal for millions of dollars in financial aid to go directly to the state's educational system.

"I propose that we increase school aid, for the second year in a row, by over $200 million, to $8.8 billion, a record amount of state aid to education," said Governor Christie in his budget address.

The Governor also focused on reducing income taxes for all new Jerseyans by 10%.

"A 10% tax cut for every working New Jerseyan will help families to keep more of what they earn. It will make us more competitive with other states and attract more new jobs to New Jersey. Every New Jerseyan deserves a tax cut," said Christie.

So what would this proposed income tax look like on paper? A family earning $50,000 a year would save $80.50 after it has been fully phased in after three years. A family earning $100,000 would save $275.

On the other side of the aisle, democrats say its not the state's income tax that needs to be lowered it's the high property taxes.

Assembly Speaker Sheila Oliver said, "Without question we didn't hear anything about reducing property taxes in this state."

Senate President Steve Sweeney said, " I don't know anybody that's talking about income taxes, but I know people upset about property taxes."

However Governor Christie says in the decade before he got into office property taxes grew by 70% and that a property tax cap that he enacted is beginning to work, saying the state is bringing property taxes under control.