"These tax increases are both unnecessary and economically risky," said Andrew Rein, president of the Citizens Budget Commission, a watchdog group. "The legislature’s tax proposals present more risk than those proposed by the governor. They are larger, broader than just the personal income tax, and permanent."

At issue are budget proposals set to be adopted in the Senate and Assembly Monday which would make tax changes that would generate at least $6 billion annually. The proposals set the parameters for negotiations on a state budget, which is due April 1.