NEW BRUNSWICK -- Phil Murphy, the Democratic nominee to succeed Gov. Chris Christie as New Jersey's governor, suggested Wednesday night he wouldn't raise taxes beyond the $1.3 billion hike he has already proposed on the state's wealthy residents, corporations and potential legal marijuana users, even if that money does not cover all of his initiatives.

Murphy, a former U.S. ambassador to Germany and ex-Goldman Sachs banking executive, has said money from the tax increases will be prioritized for public-worker pensions, education and transportation. But speaking during a town hall forum co-hosted by NJ.com, Murphy said he hopes to institute new programs like universal pre-kindergarten and free community college tuition on top of that.

Town Hall with Phil Murphy Ambassador Phil Murphy, Democratic candidate for N.J. governor, took questions from NJ.com’s reporter Matt Arco, columnist Tom Moran and a live audience. What do you most want to see under N.J.‘s next governor? Be part of the live conversation in the comments and on Twitter with #njgovernor. This town hall is co-hosted by NJ.com and the Eagleton Center on the American Governor at Eagleton Institute of Politics, Rutgers University. Posted by NJ.com on Wednesday, September 27, 2017

Murphy, however, said launching programs like those would likely depend on how much economic growth the state sees under his watch.

"The extent to which we can grow, we can then get to the other priorities that we are passionate about," he said during the event at the Eagleton Institute of Politics at Rutgers University.

Asked if those programs will be put on the back burner if the growth isn't there, Murphy said: "I think you'd have to sequence them. I think you'd have to prioritize them."

But Murphy added that "the prospect to grow this economy is real."

"We're coming from a low place," he said. "We're that baseball team that's scrapping to get in the playoffs with a very attractive trajectory going up."

New Jersey's economy -- and the state's notoriously high property taxes -- were a large focus of Wednesday's town hall, which came 41 days before Murphy faces Republican nominee Kim Guadagno in the Nov. 7 election to succeed Christie, a Republican who is limited to two consecutive term.

Murphy leads Guadagno, Christie's lieutenant governor, by double digits in all polls.

Guadagno was originally scheduled to participate in her own NJ.com town hall Thursday night, but she canceled, citing scheduling conflicts.

Murphy's tax plan has been a key focus of the race. Guadagno has hammered him on it, saying that while he will raise taxes, she will cut them.

But Murphy has said the $1.3 billion increase will spare the middle class and instead hike taxes on wealthy residents, include taxes on legalized marijuana and close corporate tax loopholes.

Plus, Murphy noted Wednesday that the state has missed out on $2 billion to $3 billion annually in revenue under Christie's administration.

"That solves a lot of the woes," he said.

Murphy said his free community college plan would cost only $200 million a year and that he will "find a way" to make it happen. He added that instituting universal pre-K is "more expensive" and would take "more years to phase in."

But on Wednesday, Murphy once again declined to say whether he would support renewing a 2 percent cap on raises that New Jersey police and firefighter unions can win through arbitration.

The cap sunsets at the end of the year, and local leaders argue that property taxes will rise and services will be cut if the state Legislature doesn't renew it.

Christie has said he would sign a bill re-upping it during the lame-duck session after Election Day if the Legislature sends him one. But top Democratic lawmakers are waiting on instructions from Murphy.

Murphy repeated Wednesday what he has said in the past: that he is waiting for the results of a report about the effectiveness of the cap, due by the end of the year.

"Let's wait until it comes out," Murphy said. "We will make a decision based on fact, taking all sides into consideration."

Christie and Guadagno have bashed Murphy for withholding his support of the cap until the study is done.

Earlier this month, Christie called Murphy a "coward" and a "political charlatan" for not taking a stance on the matter, suggesting he's trying to cater to both public-worker unions and to taxpayers.

Murphy also said the bigger focus should be on how he would fully fund the state's school funding formula.

"That's the game-changer as it relates to property taxes," he said.

Brent Johnson may be reached at bjohnson@njadvancemedia.com. Follow him on Twitter @johnsb01. Find NJ.com Politics on Facebook.