Phil Murphy: Tax Credits Good For Goldman Sachs, Not For Amazon And 50,000 Jobs
Phil Murphy yesterday refused to support the state's effort to lure a second Amazon headquarters to New Jersey, which would create 50,000 good-paying jobs and have a $9 billion economic impact on the Garden State.
But while he refuses to support tax credits for Amazon, Goldman Sachs received millions in grants and incentives from The State of New Jersey while Murphy worked in upper management at the firm. According to the liberal New Jersey Policy Perspective, Goldman Sachs received nearly $58 million in state grants between 1997 and 2010. In 2004, Goldman Sachs also built the tallest building in New Jersey with state tax credits worth $164.3 million over 10 years from New Jersey's Business Employment Incentive Grant program.
"For Phil Murphy to accept millions in state incentives while working at Goldman Sachs and to now refuse to back tax credits to recruit Amazon's new headquarters and bring 50,000 jobs to New Jersey is liberal hypocrisy at its finest," said Guadagno Spokesman Ricky Diaz. "Whether it's paying his campaign staff less than the $15 minimum wage he's campaigning on, or only supporting tax incentives that benefit his Wall Street buddies but not others, it's clear the only person's back Phil Murphy has is his own."
This week, legislative leaders from both parties announced they would support efforts to change New Jersey's incentive program in an effort to attract Amazon. While Kim Guadagno joined in supporting these bipartisan efforts, Murphy "did not say whether he would specifically support the tax credit overhaul" according to Politico NJ.