TRENTON, N.J. (AP) - Tax incentives that New Jersey enacted during Chris Christie's administration to lure businesses to the state are set to expire this year, and Gov. Phil Murphy wants to scrap his predecessor's proposals.
But his fellow Democrats drafted the incentive programs that Murphy opposes. They are skeptical about an audit the first-year governor conducted.
Murphy says the audit shows the tax incentives resulted in about $8 billion in credits being approved under the Republican Christie went into a "black hole."
The state comptroller, who conducted the audit, says it found the state's Economic Development Authority failed to determine whether businesses that got credits created the jobs they were required to.
The tax credit debate comes as Murphy pushed incentive proposals last week and lawmakers held a hearing on the audit.