Nj Governor Vetoes Greater Part of Atlantic City Rescue Plan

Nj Governor Vetoes Greater Part of Atlantic City Rescue Plan

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

Instead of signing the package of bills he previously previously been offered, Gov. Christie proposed their own variation of the set of measures that could supply the state greater control over Atlantic City and its future.

Apparently, Senate President Stephen Sweeney had been extremely critical associated with the veto in the beginning, but issued a joint statement with the Governor down the road Monday, saying that the problem requires all interested events to sit down together and discuss the future of Atlantic City, known to be truly the only invest New Jersey where casino gambling is legal.

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 is necessary’ in order for the city’s gambling industry become stabilized and revitalized.

A centerpiece in the PILOT that is so-called program a bill that would need all eight gambling enterprises to annually pay the amount of $150 million towards the city as opposed to property fees for a amount of 2 yrs. The gambling venues would pay $120 also million for the next thirteen years. Continue reading “Nj Governor Vetoes Greater Part of Atlantic City Rescue Plan”