Liberal Leader Brian Gallant says the money would be recovered in part by returning the business property tax to 2012 levels, resulting in $34.3 million in revenue for the government.
He says the move would make good business sense in a province facing a $500-million deficit.
Gallant says the rest of the revenue would come through the creation of a new tax bracket of 21 per cent for those making between $150,000 to $250,000 a year.
The Liberals estimate the new tax would bring in $28.7 million.
Gallant says low-income and middle income earners can't give any more and the new tax would raise needed revenues from those who can afford it.