NJGOP Chairman Calls For Transparency From Murphy Regarding Personal Gains On PSEG Nuclear Bailout

February 26, 2018

NJGOP Chairman Calls For Transparency From Murphy Regarding Personal Gains On PSEG Nuclear Bailout

 

Trenton, NJ – As the PSEG nuclear subsidy bill hurls forward in the legislative process and closer to Governor Murphy’s desk to be signed into law, NJGOP Chairman is calling for transparency from Phil Murphy, the former investment banking executive, on how much he could stand to personally profit from this legislation. The legislation includes $3 billion in tax hikes for consumers, that Tom Moran at the Star Ledger has called a “windfall” for the privately owned utility company, PSEG.

 

“Before Governor Murphy signs a $3 billion tax-hike on middle class New Jersey that goes straight into the pocket of a for profit company and its Wall Street investors, the public deserves to know how much Murphy could personally profit from this deal,” said Chairman Steinhardt. “Murphy is a former Goldman Sachs executive and he still rakes in millions of dollars from investments every year. Public finance records reflect that Goldman Sachs is a major investor in PSEG and that it stands to benefit tremendously from this legislation. If Governor Murphy is going to sign a multi-billion dollar tax-hike where not a single cent goes to making our schools better, communities safer, or residents healthier, we deserve some transparency on his end.”

 

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