Murphy on potential taxes: ‘Folks who have succeeded’ should help shrink inequities in N.J.

Gov. Phil Murphy made it clear: Tax increases were not part of the discussion with legislative leaders during the agreement to allow the state to borrow up to $9.9 billion.

Murphy said it wasn’t the lynchpin to getting the deal done.

Matt Platkin, Murphy’s chief counsel, went a step farther, asserting it was not part of any bill on the matter at any time.

But, make no mistake — there’s no way the state is borrowing $10 billion without raising taxes. And Murphy made it clear where he thinks those taxes should come from. Even if he tried to hedge a bit.

“It’s too early to tell on taxes or revenues,” he said at his COVID-19 briefing Friday. “This is a personal opinion — and this is not reflective of any budget discussions that have taken place.

“I personally like the notion of the folks, both individuals, companies (and) certain purchases that reflect folks who have succeeded, helping us to pay for a comprehensive program toward shrinking the inequities in our state. But that’s a personal opinion.”

Murphy acknowledged he’s not breaking any news. But he also said recent events have only cemented his view, saying he is in favor of taxes that would help fill the gaping inequities in the state, especially those he feels have been caused “explicitly from the stain of racism that is still with us.”

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