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New Jersey Governor Vetoes Greater Element of Atlantic City Rescue Plan

New Jersey Governor Vetoes Greater Element of Atlantic City Rescue Plan

New Jersey Gov. Chris Christie vetoed on Monday a set of proposed measures aimed at stabilizing Atlantic City’s struggling casino industry, saying that those would not bring ‘economic revitalization and fiscal stability’ to the town.

Instead of signing the package of bills he had formerly been presented with, Gov. Christie proposed their very own version of this pair of measures that could give the state greater control of Atlantic City and its future.

Apparently, Senate President Stephen Sweeney was highly critical for the veto initially, but issued a joint statement with the Governor later on Monday, saying that the problem requires all interested events to take a seat together and discuss the future of Atlantic City, considered to be the only real invest New Jersey where casino gambling is appropriate.

This past year, the city saw four of its twelve gambling venues close doors amidst a casino revenue downturn that is general. With eight working casinos, Atlantic City and state officials are well-aware that ‘a comprehensive, forward-looking plan is needed’ to ensure that the city’s gambling industry to be stabilized and revitalized.

A centerpiece in the so-called PILOT system had been a bill that would need all eight casinos to annually spend the total amount of $150 million to your city in place of home taxes for the amount of couple of years. The gambling venues would pay $120 also million for the following thirteen years. Continua a leggere