New Jersey's new governor campaigned on multiple radical changes, including a "wealth tax". The governor is now trying to push this through Trenton. However,

New Jersey's new governor campaigned on multiple radical changes, including a "wealth tax". The governor is now trying to push this through Trenton. However, the Senate leader of NJ (Sweeney), although a Democrat, was recently reelected in what was one of the most expensive NJ Senate elections in history. Sweeney could not have succeeded at this game without the financial support of those who are most exposed to such a wealth tax. Naturally, Sweeney is sensitive to their tax exposure and has consequently opposed Murphy's plans. I don't see NJ taxing capital gains in an administration that has many other bold plans requiring party support.