N.J. Working Families: Holtec Lawsuit Puts Selfish Special Interests Ahead of Working Families

New Jersey Working Families State Director Sue Altman issued the following statement in response to a lawsuit Holtec International filed to force the New Jersey Economic Development Authority to hand over tax credits:

Some things are beyond the pale.

Holtec’s actions this week show that the powerful special interests controlling South Jersey politics will put their own bottomless greed ahead of the needs of working families — even during a time of unprecedented crisis in NJ.

In the midst of a global pandemic, when the state’s fiscal resources are stretched thin and uncertainty looms for families across South Jersey,  Holtec’s leaders are demanding the state spend money on unnecessary and unethical corporate giveaways.

This lawsuit is even more galling given CEO Kris Singh’s history of racist statements. It’s clear that Singh and his colleagues care little about the Camden families infected with this deadly virus or those who have lost their jobs and are facing economic ruin.

Holtec’s tax credit application is currently under review by the state because it contained material misstatements. Rather than demanding money the state doesn’t have, the company should be voluntarily surrendering its tax credits for the good of New Jersey residents, particularly residents of Camden, who will likely be hit hard by this pandemic.

This is the latest piece of evidence that NewJersey’s tax credit program was never about making New Jersey, or Camden, stronger. It was about the politically connected ripping off taxpayers to enrich themselves.

This lawsuit unmasks the pure greed at the heart of the Economic Opportunity Act. Governor Murphy should show decisively that the state of New Jersey will not be held hostage by corporate thugs by aggressively litigating these specious claims.

“Camden Rising?” Give us a break.