Assemblyman Gusciora: Gov. Christie just told Trenton to ‘drop dead’ with veto
TRENTON >> Gov. Chris Christie’s decision on Wednesday to let state tax incentives expire for businesses located in the capital city will lead to “devastating” consequences, Assemblyman Reed Gusciora warned.
The Republican governor conditionally vetoed Gusciora’s bill that would have extended the state’s Urban Enterprize Zones (UEZ) for another 10 years. The program that offers businesses tax exemptions, tax credits and reduced sales tax is set to expire at the end of the year for the five original zones — Trenton, Camden, Newark, Plainfield and Bridgeton.
“We have over 100 businesses in Trenton that benefit from the Urban Enterprize Zone designation,” an infuriated Gusciora (D-Mercer/Hunterdon) said Wednesday. “In effect, the governor has told the city of Trenton, ‘drop dead.’”
A prime example, Gusciora said, is Griffith Electric Supply Co. on South Broad Street, which benefits from a reduced sales tax because it is in the UEZ.
Read more: http://www.trentonian.com/general-news/20160831/assemblyman-gusciora-gov-christie-just-told-trenton-to-drop-dead-with-veto