UPDATE: Christie Says He'll Veto Tax Hike During Town Hall Meeting

Gov. Chris Christie said he will veto tax hikes the state’s Democrats are pushing at a town hall meeting in Haddon Heights on Wednesday, the Courier Post reports.

Democrats have proposed raising taxes on New Jersey residents who earn at least $1 million.

On Tuesday night, lawmakers on the Assembly and Senate budget committees approved a $34.1 billion budget with that proposal in place, according to nj.com.

The votes in both committees fell along party lines, according to that report.

Meanwhile, Christie has proposed cutting funding intended for public workers' pensions to help close the $2.75 billion budget hole.

On Wednesday, Superior Court Judge Mary Jacobson ruled that Christie can cut the pension payment by nearly $900 million for the current fiscal year, nj.com reports. She said she will continue to hear arguments concerning the budget for the next fiscal year, which takes effect July 1.

“This was one of the hard choices the people of New Jersey expect me to make, and I am pleased the court recognized the necessity and urgency of this decision so that we can provide key funding for our schools, our colleges, our hospitals and other essential services," Christie said in a statement issued Wednesday evening. "For our state’s families who are already overburdened by high taxes, raising taxes even further would not solve a problem created by decades of neglect and irresponsibility.”

The state’s budget must be adapted by June 30.