Former New Jersey Senate President and Atlantic City ally Stephen Sweeney is running for governor
Longtime New Jersey congressman Stephen Sweeney, a political newcomer who was badly defeated in the 2021 election, is making a comeback and has his sights on the Garden State's top office.
Sweeney served as New Jersey Senate president from 2012 to January 2022, when he lost to Sen. Edward Duell (R-Gloucester), a little-known truck driver who had only one victory in the race. It cost him $153, after which he was "forced out." trace. The shocking surprise made national headlines.
Sweeney assured South Jersey voters that his political career was not over after the defeat. This week, he announced a 2025 gubernatorial campaign to succeed term-limited Gov. Phil Murphy (D).
"Sometimes in life you have setbacks," Sweeney said in a social media video. "But New Jerseyans stand up, dust themselves off and get back to work because this is who we are. "For me, New Jersey's children, working families and seniors will always come first. You know that's what I'm going to fight for because that's what I've been fighting for. "
Sweeney is also a staunch advocate for Atlantic City's gambling industry, often pushing legislation he believes is in the best interests of the seaside casino town.
Atlantic City Advocate
While in state office, Sweeney advocated for measures to improve Atlantic City. He opposes "forcing casinos" to ban smoking because the industry claims such rules would harm the gambling industry and lead to mass layoffs.
In 2016, Sweeney authored the PILOT bill that eliminated property taxes on the city's casino resorts in exchange for paying at least $120 million annually. The PILOT program comes after five casinos closed between 2014 and 2016, leading the remaining resorts to challenge their property tax assessments.
The legal challenges have resulted in a moratorium on property tax payments and prevented local governments from funding critical programs such as police and fire protection.
The PILOT system calculates a casino's property tax liability based on annual gross gaming revenue (GGR). Before leaving office, Sweeney pushed for legislation that would reduce these payments by removing GGR from the calculations for iGaming and online sports betting. The casino requires Sweeney to turn over most of the GGR generated over the Internet to third-party operators such as DraftKings, which have little physical presence in the beach town.
Atlantic County, which received 13.5 percent of the pilot funding, fought it. A compromise was reached, with the state guaranteeing the county would receive full pilot funding if iGaming and online sports betting revenue were included in the calculations.
Tale of Two Parties
Sweeney calls himself a moderate Democrat. His time in Trenton included moments of bipartisanship, particularly when he and then-Gov. Chris Christie (right) has teamed up to oversee management of Atlantic City.
In 2016, Christie and Sweeney launched an Atlantic City coup to stabilize the area after closing five casinos. Two of the state's most powerful lawmakers are on the verge of bankruptcy due to excessive spending, high taxes and poor governance. They say Trenton will stabilize the city within five years.
However, the acquisition is still in effect more than seven years after it began.Murphy in 2021 extended state control of Atlantic City until at least 2025.
"We continue to believe they need help," Sweeney said at the time of the extension. He added that "tremendous progress" had been made.
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Source: www.casino.org
