New Jersey Millionaires Tax Fails After Democrats Fail to Override Christie Veto

A Democrat-pushed tax increase on New Jersey's highest wage earners failed in Trenton on Monday, after the legislature was unable to muster the votes to override Gov. Chris Christie's veto.

MyFoxNewYork reported that the Assembly fell seven Republican votes short -- all 33 Republicans voted against the override while all 47 Democrats voted for it. The one-year hike on people making more than $1 million was expected to bring in about $600 million.

However, Democrats were planning to use the money to send rebates to senior citizens and the disabled rather than close the state's budget shortfall, according to MyFoxNewYork.

Click here to read the full story at MyFoxNewYork.