In response to today’s task force hearing on New Jersey’s economic subsidy programs, NJPP releases the following statement calling for a moratorium on Christie-era subsidies and meaningful reforms to prevent future abuse:
SHEILA REYNERTSON, SENIOR POLICY ANALYST, NJPP:
“New Jersey Policy Perspective commends Gulsen Kama for shining a light on the fraudulent tactics that have flourished under New Jersey’s tax subsidy programs. Kama’s testimony exposed a culture of corruption that has robbed the state of critical taxpayer dollars. This first hand account detailed just how easy it is to cheat the system and lie on applications for tax credits. Today’s hearing should give lawmakers pause about the integrity of existing corporate subsidy programs. The need for reform has never been more pertinent.
“The hearing also exposed the cottage industry of relocation firms and consultants that help corporations cheat on their EDA applications. In her testimony, Ms. Kama described how a consulting firm produced a detailed, yet bogus portfolio of out-of-state relocation options even though her employer was finalizing plans to move to a new office in Jersey City. This calls into question the value of offering tax subsidies for job retention and further highlights the need for a moratorium on tax credits given out under the Christie administration.”
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