New Jersey Governor Phil Murphy continues to push for so many of the progressive programs and initiatives that were blocked in prior years by his republican predecessor, Chris Christie. This latest initiative, incorporated in the Governor’s $38.6 billion state budget for FY20, seeks to expand the universe of the multi-millionaire tax (incomes over $5 million) that Murphy implemented last year to raise the marginal rate on all incomes over $1 million. The Governor’s budget projects an additional $447 million in revenue to be generated from the new millionaire tax, but he will still have to convince both Senate President Steve Sweeney and Assembly Speaker Craig Coughlin to adopt the tax expansion. The two legislative leaders have said they will oppose new tax increases this year after agreeing to hike taxes last year.