Re: new jersey sports gambling on the way?
TRENTON — The state Senate and Assembly have failed to override nine bills Gov. Chris Christie vetoed last month that would offer businesses financial incentives to encourage job growth.
Christie vetoed the legislation last month, saying the state could not afford an estimated $600 million in lost revenue from them. Democrats needed two-thirds of senators and assembly members to vote in favor of overturning the vetoes.
Both houses did, however, overwhelmingly pass two bills Christie vetoed but pared down and put in his budget proposal — one to restructure the corporate tax code so businesses only pay income taxes on sales and one to allow a 20-year “carry forward” on losses for small businesses. Democrats reintroduced them to closely match those proposed in the budget.
“Republicans have supported these bills. We like them. In fact, we were even the first ones to sponsor them over these many years. That is not what is an issue here,” said Senate Minority Leader Tom Kean Jr. (R-Union). “What is an issue is that there is no money to pay for these bills.”
The Senate bills all passed in January with bipartisan support, meaning Republicans had to switch their votes to no. Senate President Stephen Sweeney (D-Gloucester) said after the votes that Republican lawmakers have been afraid to show an independence from Christie.
“Republicans in the Legislature have no voice. There’s only one voice on the Republican side of the aisle in this state, and that’s the governor,” he said.
The overrides that failed the Senate:
- A bill to beef up a suspended program offering a film and digital media tax credit (S690)
- Expanding Economic Development Authority loans currently available to businesses in designated urban centers to include small businesses owned by women and minorities (S1216)
- A gross income tax exclusion on pensions, annuities and other retirement income (S2345)
- Promoting partnerships between institutions of higher education institutions and businesses (S2398)
- Tax credits for businesses investing in certain emerging technologies (S2454)
The overrides that failed in the Assembly
- Low-interest loans to developers of "green" buildings (A2215)
- Establishing a "closing fund" to keep businesses in-state and attract new ones (A3353)
- Partial student loan forgiveness for workers in fields with a labor shortage (A2544)
- On-the-job training for unemployed residents with potential employers, allowing them to remain on the unemployment rolls (A3584