New Jersey lawmakers on Thursday will attempt to override Gov. Chris Christie’s veto of some job-creation bills that were sponsored by Democrats.
One of those measures would expand the state’s film industry tax credits.
The governor suspended the program last year, saying the state can’t afford it. Democrats want to quadruple the $15 million a year in credits.
Ramapo College finance professor Murray Sabrin supports the idea.
“If you want to attract the film industry, you have to lower their tax liability because other states are more competitive in that area,” he said. “Anything that reduces taxes I’m in favor of. So I would give it a thumbs-up.”
However, Deborah Howlett, president of New Jersey Policy Perspective, said giving tax credits to the film industry is bad public policy.
“We believe the film industry will come to New Jersey without any incentives from the state,” she said. “It may create a few more jobs, but the investment it takes really isn’t worth the return.”
Indications are the bill will not get the support of Republican lawmakers for the override effort to succeed.