Senate President Steve Sweeney issued a formal statement in response to criminal referrals made by the NJ Economic Development Authority Task Force as a result of ongoing investigation into the NJ’s tax incentive programs.

“The announcement by the task force of alleged criminal activity regarding the state’s tax incentives is vague and incomplete.  Everyone agrees that the public should scrutinize state spending, which is why the task force must say who is being investigated, what law was broken, and which law enforcement agency was notified.

“This task force was asked to ‘follow the facts’ and ‘get to the truth.’ They should follow their own mandate and allow the public to see the truth.

“If any companies violated their agreements or defaulted on their promises to the EDA they should be identified. If anyone committed fraud, lied or cheated, they should be held accountable.

“The integrity of the incentive programs is critical for their effectiveness and so is the public’s trust in any investigations. Everyone should be straightforward and forthcoming with any relevant information.

“We want an accurate accounting of the successes, weaknesses and failings of the current programs so that the Legislature can make informed decisions about their renewal and any needed reforms. We can’t forget that these programs are for the benefit of job holders, job seekers and the state’s economy.”