TRENTON, N.J. (CBSNewYork) — It looks like New Jersey Gov. Phil Murphy’s income took a significant hit during the pandemic.
According to his tax returns, his earnings dropped to about $93,000 in 2020.READ MORE: CNN's Chris Cuomo Fired Over Involvement In Brother Andrew Cuomo's Response To Sexual Harassment Scandal
That’s 63% less than the year before when his gross income was about $2.7 million.READ MORE: Police: Miguel Rojas Wanted In Connection To Deadly Shooting In Bridgeport, Connecticut
His office did not say why his income had dipped so much.
As governor, his salary is $175,000, and much of his income comes from investments.MORE NEWS: More Omicron Cases Identified In New York; Total Rises To At Least 8
The loss of income means he won’t have to pay the so-called millionaires tax he signed into law last year.