TRENTON WORKS HARD TO JUSTIFY SPECIAL INTEREST GIVEAWAY IN NORTH NEW JERSEY GAMING REFERENDUM
FOR IMMEDIATE RELEASE: September 12, 2016
Assemblyman Scrambles To Devise Details For Cryptic Casino Expansion After Having Received Thousands In Contributions
Newark, NJ – On Monday, Assemblyman Ralph Caputo made an announcement that he would try to clarify how state funding from the proposed North Jersey casinos would be distributed if the cryptic referendum to expand gaming is passed in November.
Even amidst underfunded state pensions, sky high property taxes and a nearly bankrupt transportation fund sidelining billions of dollars in infrastructure projects, state politicians continue to make grand gestures and create so-called detailed plans for revenues based on tax rates that do not exist. Analysts have been unable to agree on potential revenues associated with the proposed gaming expansion and no economic impact associated with the gaming referendum was ever conducted
In addition, Trenton-based supporters of gaming expansion continue to throw around tax rate percentages that greatly undercut revenue promises proving the North Jersey casino expansion is just another bad bet made on the backs of taxpayers.
“Trenton politicians are doing what they always do, attempting to color the story in an effort to cover up how this referendum is intended to help special interest groups,” said Bill Cortese, executive director of Trenton’s Bad Bet. “How can Assemblyman Caputo deliver a detailed plan for revenue distribution on nonexistent tax rates and when no real economic examination has ever taken place? The numbers politicians are throwing around appear to be pulled completely out of thin air.”
The concurrent resolution placing the casino referendum on the ballot made no mention of the tax rate or definite revenue from North Jersey casinos. The tax rate will be set in the enabling legislation, commonly passed after a referendum passes. Senate President, Steve Sweeney has already said he may not want to introduce enabling legislation until after the November vote.
And the question of transparency cannot be understated as Caputo himself has received thousands of dollars from the gaming industry.
“New Jersey taxpayers have been picking up the bill for Trenton’s lies and poor fiscal management for years,” said Cortese. “This is just another example of history repeating itself.”
For more information about the Trenton’s Bad Bet, or to follow the group’s social channels, make donations, and find other opportunities to get involved, visit the group’s web site: www.TrentonsBadBet.org
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About Trenton’s Bad Bet
Trenton’s Bad Bet is a diverse collection of concerned New Jersey community leaders, unions, businesses and residents that will work to oppose the New Jersey Casino Referendum that seeks to expand gaming into North Jersey.