An $11 billion economic development program in New Jersey is coming under new scrutiny amid questions over whether lucrative tax breaks meant to attract businesses barely benefited the state. DEMOCRATIC NJ MAYOR RESIGNS, CHARGED WITH ELECTION INTERFERENCEAs one example, The New York Times reported that the business Holtec received a $260 million tax credit. Murphy’s task force is comprised of a team of lawyers who will look deeper into who got tax breaks and why, including a whistle-blower’s allegations that her former company lied to win incentives, northjersey.com reports. The New York Times reported that changes to drafts of the 2013 bill were made by a lawyer named Kevin Sheehan, who has close ties to Democratic politicians. The New York Times said George Norcross’ insurance firm benefited from the bill and was approved to receive a $86.2 million tax credit for relocating to Camden.

Source: Fox News May 02, 2019 14:48 UTC