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New Jersey Senate President Stephen Sweeney, the state’s highest-ranking Democratic lawmaker, plans to introduce legislation today to cap increases in the nation’s highest property taxes at 2.9 percent a year.

The plan challenges Republican Governor Chris Christie’s proposed 2.5 percent limit. Sweeney’s cap would be instituted by statute, rather than through a constitutional amendment as Christie has proposed. Any changes to the state constitution need voter approval. Read more.