UNB! News New York

Gov. Murphy takes aim at NJ’s tax credits in first 'State of the State' speech

TRENTON, N.J. — New Jersey Gov. Phil Murphy gave his first “State of the State” speech on Tuesday.

Murphy compared the state’s tax incentive program to “crony capitalism” and says it’s time start a new one that caps rewards and has tighter oversight.

The Democrat took aim at the $8 billion in awards from his predecessor Chris Christie’s administration during Tuesday’s state of the state speech.

His comments come after the state comptroller’s audit showed the Economic Development Authority failed to check whether the jobs promised materialized in return for tax credits.

Murphy called himself a “pro-growth progressive” and touted the new laws he signed since taking over from Christie a year ago, including funding for Planned Parenthood, paid sick leave and gun control measures.

He also renewed his calls for a $15 minimum wage and legalization recreational marijuana. Both items have stalled in the Democrat-led Legislature.

— Information from the Associated Press was used in this report.

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