Gov. Christie plans to cut corporate tax surcharge

February 19, 2010 6:13:36 AM PST
Gov. Chris Christie says he'll eliminate a corporate business tax surcharge that has been renewed annually since 2006. He told a group of small business leaders in a forum in Lumberton Thursday that the 4 percent charge will not be in the budget proposal he'll make March 16 and that it won't return as long as he's in office.

Christie ran last year promising to let the surcharge expire, saying it hurts small businesses that could otherwise create jobs.

Balancing the budget could be a struggle. Last week, the Republican announced some $2 billion in cuts for the current fiscal year, which ends June 30.