For the full text of this press release in PDF format, please click here: ATNJ Supports A Moratorium On Future EDA Tax Incentives
For Immediate Release:
ATNJ Supports A Moratorium On Future EDA Tax Incentives
MADISON, NJ, March 25, 2019 – WNYC News recently published a report examining a New Jersey Whistleblower case alleging Governor Chris Christie’s administration pressured agency officials to “overlook rules and regulations in the rush to approve billions of dollars in new subsidies.” ATNJ condemns, without reservation, the actions of the previous administration, and the Economic Development Authority (EDA), to appease the state’s business lobby and deliver tax breaks to large corporations that have their hooks in New Jersey’s political process. Governor Murphy has made a point to reverse and rectify years of fiscal mismanagement which have already taken a toll on the state’s residents. The corrupt handouts of billions of dollars in tax breaks add insult to injury as New Jersey continues its battle with outstanding liabilities owed to creditors and pension holders.
The report is especially alarming given Governor Murphy’s recent budget address. As the administration looks for new revenue streams in order to set the state on a path towards fiscal responsibility, the misuse and lack of oversight associated with $11 billion dollars in tax credits is an affront to New Jersey’s taxpayers. ATNJ has been a vocal supporter of transparency and accountability in government, regardless of party affiliation or political ideology. We fully support the investigation by Attorney General Gurbir Grewal and a moratorium on future EDA tax incentives until a thorough audit of the handouts during the Christie-Guadagno years has been completed.
As ATNJ has advocated for in the past, we support an economic system that focuses on growth and progress; however, to do so at the expense of working families would be immoral and unjust. We will continue our fight to hold those in government accountable, just as we have fought to hold corporations accountable for their actions.
Economic Policy Director
Uyen “Winn” Khuong
About Action Together New Jersey
ATNJ, a non-profit progressive group, is the largest grassroots organization in New Jersey. ATNJ has chapters in every county, because change is local. Functioning as a central command for statewide initiatives and legislative actions, ATNJ’s teams work with coalitions of like-minded groups to serve the public by educating the electorate, providing a platform for progressive candidates, advancing legislative proposals with elected officials, and working in concert with advocacy groups for human rights. ATNJ seeks to promote equality and progressive ideals and to secure a more inclusive, fair and equitable future for New Jersey and the nation. For more information, visit www.ATNJ.org.