Gov. Chris Christie late Friday afternoon vetoed three bills passed earlier this year that he said would have added an additional $132 million in state spending.
Among the bills vetoed was one to restore money to fund Planned Parenthood centers and another that created a $100 million homebuyer tax credit program that would have allowed for up to $15,000 in tax credits. $75 million of the money would have gone to purchasers of newly constructed homes with the remiander available to purchasers of existing homes.
According to its sponsors the homebuyer credit would have reinvigorated the state’s economy and provided some adrenaline to the stuttering real estate and construction markets through demand for new homes.
“This tax credit meant to help working class New Jerseyans would have driven our economy in so many ways. Instead, this veto will keep people out of work, send more people to the unemployment line and shutter businesses,” said Assemblyman Lou Greenwald. “This stunning veto is another example of Gov. Christie’s clear lack of understanding in what it means to be a middle-class and lower-income New Jerseyan struggling just to make ends meet.”
In his veto message, Christie said the majority of the credits would be used for already constructed new homes limiting the economic and real estate growth spurred by the bill. The limited benefit does not warrant a $100 million investment, the governor said.
The bill passed the assembly with 67 votes and sailed through the senate with a unanimous 38 votes.