An obscene rush on corporate tax breaks | Moran
Updated Dec 20, 2020;
Posted Dec 20, 2020
Activist Sue Altman was on Gov. Phil Murphy s side when State Police dragged her from a Senate hearing in November 2019 after she led a protest against corporate tax breaks. Now, she s really disappointed in the ill-conceived reform supported by the governor and Democratic leaders in the Legislature. Ed Murray | NJ Advanced Media for NJ.com.Ed Murray | NJ Advance Media for
Facebook Share
Last year, Gov. Phil Murphy said that New Jersey hands out way too many corporate tax breaks, based on back-room deals that “squandered” up to $11 billion in taxpayer money.
After scandal and delays, massive N J corporate tax credit bill gets major push, with scant scrutiny
inquirer.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from inquirer.com Daily Mail and Mail on Sunday newspapers.
After scandal and delays, massive NJ corporate tax credit bill gets major push, with scant scrutiny
pressofatlanticcity.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pressofatlanticcity.com Daily Mail and Mail on Sunday newspapers.
Credit: Edwin J. Torres/ Governor s Office
File photo
A massive, $11.5 billion plan to update and expand corporate tax breaks that Gov. Phil Murphy and legislative leaders say is needed to boost the state economy during the coronavirus pandemic is set to go before lawmakers for the first time Friday.
The legislation was just introduced earlier this week, but boosting economic development through tax breaks has been labeled a top priority by the governor and lawmakers, and it is expected to reach Murphy’s desk by early next week.
If enacted unchanged, the measure would allow for the awarding of up to $1.5 billion in tax breaks annually over a six-year period to incentivize things like small-business support, brownfield remediation, historic preservation and other economic development activities, according to the bill.