(TRENTON) – Assembly Budget Committee
Chair Vincent Prieto (D-Bergen/Hudson) on Wednesday issued the following
statement after the committee’s hearing on the administration’s proposal to
privatize the New Jersey Lottery:
“This latest
proposal to monetize one of our most profitable and well-run assets is troubling
to say the least. Absent any testimony from the administration, we appear to be
looking at a plan to forfeit substantial long-term revenue for a one-shot
upfront payment that will hurt small business owners and deprive us of
considerable revenue to serve students, veterans and the disabled.
“Privatization
should be reserved for when the government cannot perform that function well on
its own. In the case of our award-winning lottery system, we have one of the
most efficient operations in the world.
“At the end of
the day, it appears that the only one that stands to benefit from this proposal
is the company chosen to take over this asset,” said
Prieto.
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