It may be Super Tuesday elsewhere, Save Jerseyans, but here at home it’s still Budget Wars all day, all the time.
Governor Chris Christie called into NJ 101.5 earlier today to defend his 10% income tax cut plan to a skeptical “Dennis and Judi.” He’s due to start a “Jersey Comeback” townhall in Ocean Township around 3 o’clock.
It was a solid radio exchange worth hearing if you missed it, Save Jerseyans:
httpv://www.youtube.com/watch?v=EsNFqnhJv3Y
No audio? A truncated transcript is below the fold…
TRANSCRIPT
Governor Christie: I’m really happy tohear what Senator Sweeney had to say this morning because it’s now clear thatboth me and Senator Sweeney agree that income taxes need to be reduced. I wantto do it by a rate cut; he wants to do it by credit, but that’s just thedetails. We’ve now agreed that income taxes need to go down. He wants to do itby 10% credit; I want to do it by 10% cut. The good news for everybodylistening out there is that you now have myself and Senator Sweeney agreeing onthe fact that income taxes need to go down in New Jersey and I’m ready …
Dennis Malloy: He’s saying thatcredit is going to be against your property tax according to your income.
Governor Christie: Yeah, but Dennis it’sgoing to be on your income tax form and it’s going to act as a credit againstyour income taxes.
Dennis Malloy: Well, what if youdon’t own property?
Governor Christie: Then you’ll get arenter’s credit.
Judi Franco: OK.
Dennis Malloy: Why don’t you justreduce our taxes all the way around and stop playing games?
Governor Christie: Well Dennis, that’smy plan.
Judi Franco: How is it going towork?
Governor Christie: What do you mean howcan it work?
Judi Franco: How can you afford inthis economy with the deficit that we have to give up this revenue?
Governor Christie: Well, first of allJudi because we’re doing it, in my plan we’re phasing it in, in three years, sothe hit that happens to the budget is eased in over a period of three years.Secondly, we’re doing it because we already see revenue growth in this stateand significant revenue growth in this state. And the question is what do youdo with that revenue growth? Do you continue to just spend it on governmentprograms, or do you return some of it to the people of the state of New Jersey?
Judi Franco: Well, we’re with youon that one.
Governor Christie: Well, good, thenwe’re on the same page.
…
Governor Christie: This is what I want toleave people with today is that now that the Senate President has said that hewants an income tax credit program, I want an income tax cut program. Thatmeans, imagine this: in the state where these guys were running the state forthe last eight years before I got here and they raised taxes and fees 115times, the only argument we have left now down here on taxes is whichones to cut and how.
Judi Franco: He does have a point,Den. You’ve got to give him that.
Dennis Malloy: Yeah…
Governor Christie: It’s not aboutwhether to cut income taxes, now it’s just about how. If I had told you this onInauguration Day 2010 when I was staring at a $13 billion hole in our budgetand I told you if we made tough choices we’re going to get to this point, andthat two years later we’re here, you would have told me I was crazy.
