State Sen. John McKeon supports Gov. Phil Murphy’s proposal to increase taxes on internet gaming and sports wagering in New Jersey. McKeon believes this move is necessary to boost state revenue and provide more support for problem gambling programs. Currently, New Jersey’s tax rates on online gaming and sports betting are lower than those in neighboring states like Pennsylvania and New York. McKeon argues that raising these rates would ensure that gaming companies pay their fair share and improve the state’s financial position.
In addition to increasing taxes, the proposal aims to allocate additional funds to programs that address gambling addiction. McKeon has previously introduced a plan to use a portion of the increased tax revenue for prevention, education, and treatment services for compulsive gamblers. He believes that raising these tax rates will not only benefit New Jersey’s financial stability but also help individuals struggling with gambling addiction in the state.
Supporters of Murphy’s proposal see an opportunity to increase state revenue while expanding gambling addiction services. By raising taxes on online gaming and sports wagering, the state could enhance its financial position and provide more support for those affected by gambling addiction. This move is seen as a positive step towards addressing the issue of problem gambling in New Jersey.
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