You probably missed this news nugget unless you’re regularly deep diving on the issue, Save Jerseyans, but on March 5th, Connecticut’s Democrat Governor Ned Lamont signed a bill into law offering tax breaks for data centers.
Kind of boring? Not if you’re Nasdaq. Or the Murphy Administration.
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Trenton Democrats haven’t given up on their plan (click here) for a financial transactions tax of 100th-of-a-cent on in-state stock exchange operations. Meanwhile, Nasdaq responded last fall by threatening to leave New Jersey, flirting with the Lonestar State, and conducting a full test of its ability to route through Chicago instead.
There are 38,000 New Jerseyans working in the securties industry at present, an industry which contributes a whopping $1.4 billion per year in state and local taxes.
Our neighbor Connecticut is clearly making its own play to take advantage of Trenton’s stupidity.
Who could blame them? I don’t.
Keep an eye on this one.
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