Author: Rory B. Bellows
A State Senate panel approved an affordable housing bill which will create tax breaks for developers to build affordable housing around transit hubs. An amendment would also provide breaks to builders in Newark and Jersey City.
The state imposes a 2.5% fee on commercial development units in an effort to fund construction of $80 to $120 million dollars that will fund the building of 115,000 units of “affordable” housing for lower and middle income families.
Affordable housing is a sham. Creating housing units for people who otherwise would not be able to afford them is a welfare state magnet. It will draw in lower income individuals, while requiring spending and tax increases that have forced upper income residents and buisnesses to flee the state at an alarming rate.
So now if you work in New Jersey you are working to fund: paid family leave for people not named you, housing for people not named you and retirement and healthcare benefits for state employees not named you.
You should be thankful John Corzine and his Democratic pals allow you to keep any of your own money at all.