AFP: Taxpayers, Middle Class Will Pay Price As Revel Goes Bust

June 19, 2014

AFP: Taxpayers, Middle Class Will Pay Price as Revel Goes Bust

“Americans for Prosperity warned that this taxpayer-funded bailout would fail and fail miserably”

TRENTON – Americans for Prosperity is reacting to news that the Revel Casino, the beneficiary of a massive taxpayer bailout, is once again filing for bankruptcy and “cannot pay its quarterly property taxes”.

“Americans for Prosperity warned that this taxpayer-funded bailout would fail and fail miserably,” said AFP communications director Mike Proto. “This is one time we wish we were wrong but we’re not.”

“Just as we predicted, taxpayers will pay the price. The hundreds of millions of taxpayer dollars will never be recovered,” continued Proto. “Gov. Christie, Steve Sweeney and others who supported this bailout claimed it would revitalize the city, bring in jobs, help the economy, and help the middle class. But it’s the middle class who will be hurt the most by Revel going belly up; the casino dealers, cooks, janitor, contractors, and housekeeping staff who may never get paid.”

“Perhaps, instead of bailing out politically connected developers, Sen. Sweeney instead could have used the money to help fix our state’s pension system. Maybe then he wouldn’t have to call for even higher taxes to make those payments.”

“Revel’s failure should be the last straw for bailouts and corporate welfare in New Jersey. Unfortunately, the same voices who promised the Revel would succeed are playing the same siren song when it comes to the American Dream Mall, giving handouts to the film industry, and the $82 million tax break to the 76ers billionaire owner to build a practice facility.”

“When is enough enough? When will they learn this kind of government manipulation and interference in the marketplace just doesn’t work?”

“For New Jersey taxpayers and New Jersey’s middle class, not soon enough.”

AFP welcomes media inquiries. Please contact Communications Director Mike Proto via e-mail (mproto@afphq.org) or phone (201-400-3666).

Americans for Prosperity (AFP) is a nationwide organization of citizen-leaders committed to advancing every individual’s right to economic freedom and opportunity. AFP believes reducing the size and intrusiveness of government is the best way to promote individual productivity and prosperity for all Americans. AFP educates and engages citizens to support restraining state and federal government growth and returning government to its constitutional limits. AFP is more than 2 million activists strong, with activists in all 50 states.  AFP has 34 state chapters and affiliates. More than 85,000 Americans in all 50 states have made a financial contribution to AFP or AFP Foundation. For more information, visit www.americansforprosperity.org

Americans for Prosperity does not support or oppose candidates for public office.

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