Murphy Seeks New Jersey Tax Hikes, Some Cuts, More Debt in $40 Billion Budget

New Jersey Gov. Phil Murphy proposed a nearly $40.1 billion budget, which slashes about $1 billion in spending but also calls for higher taxes on millionaires and $4 billion in new debt to close gaps stemming from the coronavirus pandemic. Standing on a podium Tuesday at midfield at Rutgers’ SHI Stadium in Piscataway to make social distancing easier than inside…