New Jersey Governor Vetoes Greater Element of Atlantic City Rescue Plan

New Jersey Governor Vetoes Greater Element of Atlantic City Rescue Plan

Nj Gov. Chris Christie vetoed on Monday a group of proposed measures aimed at stabilizing Atlantic City’s fighting casino industry, saying that those wouldn’t normally bring ‘economic revitalization and financial security’ to the town.

Instead of signing the package of bills he previously previously been offered, Gov. Christie proposed his version that is own of set of measures that could give the state greater control of Atlantic City and its particular future.

Apparently, Senate President Stephen Sweeney had been extremely critical of this veto in the beginning, but issued a statement that is joint the Governor down the road Monday, saying that the situation requires all interested parties to sit down together and talk about the future of Atlantic City, regarded as the only place in New Jersey where casino gambling is appropriate.

A year ago, the town saw four of its twelve gambling venues close doors amidst a casino revenue downturn that is general. With eight running casinos, Atlantic City and state officials are well-aware that ‘a comprehensive, forward-looking plan is necessary’ to ensure that the town’s gambling industry become stabilized and revitalized.

A centerpiece within the PILOT that is so-called program a bill that could require all eight gambling enterprises to annually pay the quantity of $150 million to the town instead of property taxes for the amount of 2 yrs. The gambling venues would pay $120 also million for the next thirteen years. Continue reading “New Jersey Governor Vetoes Greater Element of Atlantic City Rescue Plan”