Insider NJ

Before Hearings On EDA Corruption, NJ Groups On The Left and Right Demand NJ Legislators Reform Of Tax Incentive Programs

Insider NJ — March 27, 2019

Trenton — Just before the New Jersey Tax Incentive Task Force hearing on recent scandals involving $11 billion in corporate subsidies awarded by the state's Economic Development Authority, grassroots and public policy organizations from across the political spectrum will hold a press conference calling for major reforms of New Jersey's tax incentive programs.

Under former Gov. Chris Christie, the EDA pledged billions to profitable and politically connected corporations. Those awards grew in size and scope after the passage of the Economic Opportunity Act of 2013. A recent audit by the New Jersey Comptroller showed a lack of transparency, oversight, and accountability in awarding the tax credits, and a recent bombshell report by WNYC suggests that the Christie-era EDA manipulated the cost-benefit analysis, turned a blind eye to fraudulent applications, and rushed billions of dollars in awards through the door. The programs established by the Economic Opportunity Act are set to expire this year, and Gov. Murphy has called for significant reforms, including capping the amounts on awards.

The press conference is organized by New Jersey Working Families, New Jersey Policy Perspective, Americans for Prosperity, New Jersey Citizen Action and New Jersey Work Environment Council.

WHO:

WHAT: Coalition Press Conference Calling for Greater Accountability and Transparency at the EDA

WHERE: War Memorial, 205 W State St, Trenton, NJ 08608

WHEN: Thursday, March 28, 2019, 9:30 a.m. ET

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