TRENTON’S BAD BET REACTS TO ECONOMIC REPORT ON NEGATIVE IMPACT OF CASINO EXPANSION REFERENDUM
FOR IMMEDIATE RELEASE: October 11, 2016
New Jersey Policy Perspective Report Outlines Risks & Economic Impact Of Question One Indicating Job Loss & Infrastructure Costs Hurting Taxpayers
Newark, NJ – Today, Trenton’s Bad Bet reacted to the release of an economic impact report on the proposed gaming expansion into North Jersey issued by Gordon MacInnes, president and chief executive of the New Jersey Policy Perspective (NJPP).
As an organization, NJPP champions economic justice and shared prosperity across New Jersey. MacInnes himself has served in both the State Assembly and Senate, and has focused his current research on Question One in an effort to provide a clear economic picture of the impact of such a gaming expansion.
The referendum to expand casino gambling to the northern part of the state will be the first question New Jersey voters will see on the ballot this November. The proposal has offered few details save a 72-mile perimeter outside of Atlantic City, making it difficult for residents to discern the possible impact to New Jersey neighborhoods and families.
The NJPP report indicates, if this referendum were to be approved, the economy in the southern part of the state would be gravely impacted sending a ripple effect across the entire state, and creating a deficit in the budget that all residents will likely have to cover through additional property and income taxes.
According to the report, issued by Gordon MacInnes and Sheila Reynertson, who is a NJPP senior policy analyst, “[Gaming expansion] proponents say casino expansion will help rescue Atlantic City, dramatically increase support for struggling seniors and the disabled, help the fading horse racing industry and help host municipalities and counties. The number commonly cited is $500 million in new revenue each year, with at least $200 million going to seniors and the disabled and $200 million to assist rebuilding Atlantic City. But essential questions about the taxes to be imposed and who decides about their distribution remain unanswered.”
In response, Bill Cortese, executive director of Trenton’s Bad Bet said, “This report confirms what we have been saying all along. Casino expansion is a bad deal for residents. That is why Trenton is being so cryptic with the details. The politicians who have received thousands of dollars from billionaire developers seeking gaming expansion cannot be trusted.”
In spite of reports that indicate an expansion of this kind would mean more than 30,000 jobs losses, an impact that would be felt in every corner of the state, politicians insist that new revenues would be enough to not only support Atlantic City, but also simultaneously replenish the Transportation Trust Fund, while also providing additional financial support to programs for seniors and children. Politicians in Trenton did not even undertake an economic impact study before seeking to amend New Jersey’s constitution. Opponents of gaming expansion have found that if enacted, new casinos in North Jersey would result in billions in economic losses.
“There is no tax rate determined for these proposed casinos, so how can the state possibly know what kind of revenue there will be, much less what programs and bailouts they may or may not support?” Cortese asked. “This is just another example of Trenton pushing through a deal for special interests with no regard for the potential impact on New Jersey families. That’s why we are asking voters to vote no on Question One.”
To access the report issued today by New Jersey Policy Perspective, click here.
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 website: www.TrentonsBadBet.org
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.