New Jersey Reaches Deal, Casino Gambling Back Up Soon

A deal has been reached in the New Jersey budget battle. However - the results are not immediate. Gov. Jon S. Corzine said a government shutdown that closed casinos and furloughed thousands of workers will end in the next 24 to 36 hours.

Budget bills first must pass both the Senate and Assembly, he said.

AP reports that Corzine cautioned that the budget accord was not cause for celebration, because too many residents' lives were disrupted.

"We have much more to do in the coming months and years to fix our state's public finances," he said.

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According to a report on CNN the new budget deal will raise the state sales tax a full percentage point from 6 to 7 percent and the state will then use half the $1.1 billion that it will raise to help lower property taxes, which are among the highest in the nation.

The report claims that it allows the possibility that, in future years, the entire increase will go to property tax relief.

"I honestly think that in the end with the agreement that we have reached our state and more importantly our citizens are all emerging as winners," said Senate President Richard J. Codey.

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Fox News reports that state workers protested today and at least 45,000 workers are still off the clock. The state lost millions in casino tax revenue and lottery tax revenues as well.

The new budget is at a reported $31 billion and the shut-down reportedly is not sitting well with voters.

July 7, 2006
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com    Previous Page | Internet Gambling | Top Online Casinos | Submit News!