DeANGELO: GIFT CARD, MONEY ORDER, CALLING CARD ‘ABANDONED PROPERTY’ CHANGES A TAX BY ANY OTHER NAME

(TRENTON) — Assemblyman Wayne P. DeAngelo (D-Mercer/Middlesex) issued the following statement Monday on the changes to the timeframe for considering money orders, calling cards and gift cards as abandoned property in Gov. Christie’s FY 2011 Budget:

“This Republican legislation has no positive public policy implications.

“Instead, it will only serve to increase the cost of money orders, gift cards, travelers checks and prepaid calling cards.

“With money orders in particular, low income families — who use them to pay for things like rent, utilities and other necessities — will be hurt the most.

“The bill provides no additional consumer protections and no incentive or benefit to the business community. In fact, it will only add new layers of bureaucracy and red tape to our state government.

“Worse, thanks to the efforts of Republicans and Gov. Christie, this legislation would make New Jersey operate differently than everywhere else in the country, once again declaring that our state is not a good place to do business.

“The sole reason for this legislation is to generate revenue for the state’s coffers at the direct expense of consumers and businesses in New Jersey.

“If that’s not at tax increase, I don’t know what is.”

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