MORIARTY: CHRISTIE VETO OF HOMEBUYER TAX CREDIT FLIES IN THE FACE OF ECONOMICS, LOGIC

(TRENTON) — Assemblyman Paul D. Moriarty on Friday decried Gov. Chris Christie’s veto of legislation (A-1678) that would have put working-class New Jerseyans back to work through the creation of a new homebuyer tax credit program.

The governor’s veto comes a day after the New York Federal Reserve Bank released economic indicators showing New Jersey to have the slowest economic recovery in the region and posting a construction jobs loss for March-June at more than three times the national average.

Moriarty (D-Gloucester) issued the following statement:

“This is just another slap in the face from the governor to middle class New Jerseyans that started with his budget, continued with today’s veto and likely won’t end until he has made the state unaffordable for all but the richest 1 percent of the population.

“This program would have stimulated the economy on two fronts: it would have provided an incentive for prospective homebuyers to make a purchase, pumping money into the real estate market and all the surrounding local businesses that benefit from a new homeowner; and it would have put out-of-work architects, engineers and construction workers back to building homes and off the state’s unemployment rolls.

“The governor’s actions today don’t just fly in the face of logic, they fly in the face of economics as well.”