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New Jersey Panel Urges Steps to Fix Tax-Break Program

Jan. 17, 2020, 7:55 PM

New Jersey’s economic development incentive program should take steps to control the “profligate” award of tax credits, a task force appointed by Gov. Phil Murphy (D) has said.

The task force, appointed by Murphy after a January 2019 report by the state comptroller’s office found potential abuses in granting tax breaks, said the state Economic Development Authority (EDA) Grow NJ program has been vulnerable to “extraordinary” structural and institutional pressures to give in to demands by companies for tax breaks and operated “under at least the appearance of a conflict of interest.”

The findings and recommendations came out in ...

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