Chris Christie says New Jerseyans already face severe economic conditions.
The Republican faces a projected budget deficit of $8 billion when he takes office.
Friday's announcement came after the government released unemployment figures that showed the national jobless rate topping 10 percent.
Christie campaigned against tax increases. He renewed his campaign promise after speaking in Toms River to group of Ocean County mayors who complained about state regulations.
Christie carried the Republican county by a wide margin in Tuesday's election.
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