N.J. is approaching the end of budget negotiations

With less than 31 hours before the constitutional deadline, New Jersey Gov. Phil Murphy and his Democratic colleagues in the legislature remain unable to agree on a state budget. he was "bitterly disappointed", they could not reach an agreement. The failure of the adoption of an expenditure plan before the start of the July 1 fiscal year could force the closure of the state government.

Murphy, 60, took office in January. spend on priorities such as education and transportation. Murphy, former senior partner of Goldman Sachs Group Inc., had proposed to increase the sales tax rate from 6.625% to 7% and from 8.97% to 10.75% for millionaires

. The Senate and the Assembly were looking for other short-term solutions, including a 4% surtax on business taxes of corporations. This would increase the overall tax rate for larger corporations to 13%, higher than any other state.

Read more about the New Jersey tax battle here

Steve Sweeney, 59, proposed a surtax would start at 3 percent and fall to 1 percent over four years; "He's more concerned about protecting companies that have had billions of dollars in Donald Trump's profits," Sweeney said of Murphy. "He prefers to raise taxes on New Jersey people."

Christie Comparison

Sweeney said that Murphy's style was similar to that of his Republican predecessor, Chris Christie. The attitude, Sweeney said, was "my way or the highway."

No further talks between the governor and the legislators were planned. Murphy, at a subsequent press conference, said he planned to meet his Cabinet tonight.

Lieutenant-Governor Sheila Oliver, who worked on 14 previous budgets as an assembly, fought back to her former colleagues

Oliver said the millionaires were "protected by Governor Christie" and have received a break from Trump. Sweeney's compromise, an increase for those earning more than $ 5 million, would raise $ 160 million, about 20% of what the government needs.

"I will not compromise on the need for a real and lasting solution," said Murphy, "I am here to make our state fair and fix once and for all.

( Adds a comment from the Governor beginning in the eighth paragraph. )