New Jersey Governor Vetoes Greater Section of Atlantic City Rescue Plan

New Jersey Governor Vetoes Greater Section of Atlantic City Rescue Plan

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

Instead of signing the package of bills he’d previously been given, Gov. Christie proposed their own variation for the set of measures that would supply the state greater control of Atlantic City and its future.

Reportedly, Senate President Stephen Sweeney had been very critical of the veto in the beginning, but issued a joint statement with the Governor down the road Monday, saying that the situation requires all interested parties to sit down together and discuss the future of Atlantic City, considered to be the actual only real place in New Jersey where casino gambling is appropriate.

A year ago, the city 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 will become necessary’ in order for the city’s gambling industry to be stabilized and revitalized.

A centerpiece in the so-called PILOT system had been a bill that will need all eight gambling enterprises to annually pay the amount of $150 million to your town as opposed to property taxes for the period of 2 yrs. The gambling venues would pay $120 also million for the next thirteen years. Continue reading “New Jersey Governor Vetoes Greater Section of Atlantic City Rescue Plan”