New Jersey Governor Vetoes Greater Element of Atlantic City Rescue Plan
New Jersey Gov. Chris Christie vetoed on Monday a set of proposed measures aimed at stabilizing Atlantic City’s struggling casino industry, stating that those wouldn’t normally bring ‘economic revitalization and fiscal stability’ to your city.
Instead of signing the package of bills he had previously been given, Gov. Christie proposed their version that is own of group of measures that could provide the state greater control over Atlantic City and its future.
Apparently, Senate President Stephen Sweeney was very critical regarding the veto in the beginning, but issued a joint statement with the Governor afterwards Monday, stating that the matter requires all interested events to sit back together and discuss the future of Atlantic City, considered to be the only real invest New Jersey where casino gambling is legal.
This past year, the town saw four of its twelve gambling venues close doors amidst a basic casino revenue downturn. With eight running casinos, Atlantic City and state officials are well-aware that ‘a comprehensive, forward-looking plan is required’ in order for the city’s gambling industry to be stabilized and revitalized.
A centerpiece into the so-called PILOT system had been a bill that would need all eight casinos to annually pay the total amount of $150 million to your city in place of home taxes for a period of couple of years. The gambling venues would also spend $120 million for the following thirteen years. Continue reading “New Jersey Governor Vetoes Greater Element of Atlantic City Rescue Plan”