NJ Lawmakers Want Casino Tax Hike - Sunday 25th of June 2006

TRENTON, New Jersey – As reported by the Asbury Park Press: "As lawmakers scramble for alternatives to Gov. Corzine's proposed tax increases, some have turned their eyes to Atlantic City, where they believe casinos should pay more to help balance the state budget.

"But Corzine is said to be adamantly opposed to the idea, believing it could hurt a growing industry.

"Sen. Shirley Turner, D-Mercer, proposed a bill to increase casino taxes Monday, and Assemblyman Reed Gusciora, D-Mercer, said the idea is also under consideration in the lower house.

"Turner said she would rather see casinos pay higher taxes than consumers. If the state sales tax is boosted from six cents to seven cents, as Corzine proposed, it is projected to cost a typical family $260 a year.

"…Lawmakers from the Atlantic City area, however, said the plan could hurt economic growth.

"…Casinos are scheduled to save about $30 million in casino-specific taxes in the next fiscal year after some fees expire, according to the state budget. In all they are expected to pay about $468 million in casino-related taxes…"

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