NEWARK - Assembly Speaker Shelia Oliver (D-East Orange) says there is enough support in the Democratic caucus to back continuation of a millionaire's tax in New Jersey - a measure she supports. 

"When I think of the 46 members of our caucus, I think a majority would rise in favor of that," Oliver told PolitickerNJ.com tonight at a fundraiser for U.S. Rep. Donald Payne (D-Newark), where Oliver was the special honored guest.

Oliver joined a packed house for Payne on the 22nd floor of the Newark Club this evening after meeting with Gov. Chris Christie as part of a budget preview session two days before Christie makes his budget presentation to the legislature. The Star-Ledger reported today that Christie on Tuesday intends to propose a constitutional amendment capping annual property tax increases to 2.5% at every level of government, according to sources. His proposed $29.3 billion budget is $2.9 billion smaller than last year's budget, the Ledger reported. 

Several Democratic Party politicians here said they fear limits on spending would result in layoffs to government workers at the local level - an unacceptable outcome in this economy.

Standing at a podium with the Newark skyline behind him when the speaker entered the room, Essex County Executive Joe DiVincenzo broke from praising Payne and asked Oliver in front of the whole crowd, "What's the news?"

"Very bad news," said Oliver.

"I'm going to jump from the 22nd floor," DiVincenzo deadpanned.

Oliver later explained, "It's bad news as presented. Now it's time for the legislature to add its flavor to the budget. As Gov. Christie has said, the ball is now in our court."

Favoring retention of the so-called millionaire's tax, Oliver said, "no one should have to suffer the cuts" proposed without accompanying shared sacrifice from the state's highest income earners.

Congressman Payne and his brother, Essex County Deputy Chief of Staff Bill Payne, remember Oliver when she grew up in the South Ward of Newark and attended Weequahic High School.

They honored her tonight as the first woman African American Assembly Speaker of New Jersey, an accompaniment to Payne's status as New Jersey's first - and only - African-American congressman.

In her remarks before the crowd tonight, Oliver, an honors English student at Weequahic, described reading "A Tale of Two Cities" by Charles Dickens in her youth, and being "revolutionized" by that work.