Companies are stealing our tax dollars, our representatives shouldn't be helping them

Matt Dragon @matt_dragon
Published: 10/19/2019

NJ's Economic Opportunity Act established criteria for distributing tax credits when companies consider investing in NJ. The law was written by Steve Sweeney (NJ Senate President), Chris Christie and George Norcross and was heavily influenced by corporations who ended up benefiting financially from the law.

In September, the NY Times reported North Jersey companies had received $100M in credits after threatening to move out of state, often with no real intention of moving. In South Jersey, companies connected to Norcross got $1.1B in credits. Many of those companies had no real plans to move either; three listed the exact same potential office space on their application.

Despite the Governor's Task Force and multiple law enforcement investigations, lawmakers voted to support extending the law unchanged. The Governor vetoed S3901, sending extensive changes back to the Legislature. Sweeney and the Legislature could pass those changes tomorrow, if they wanted to ensure corporations weren't continuing to take advantage of taxpayers.

Call your representatives and ask them to support the governor's changes to S3901 to protect our tax dollars. We shouldn't be giving tax dollars to companies who have no intention of moving out of state and are exploiting the law.

Topics: EDAGeorge NorcrossNorth Jersey