Government And Institutions

Golden Nugget to sue over Atlantic City tax aid plan, says it hurts smaller casinos

An Atlantic City casino that says its taxes would rise dramatically under a proposed tax assistance bill designed to help save the struggling seaside resort town says it will sue to block the plan "and blow this whole thing up." The Golden Nugget said Thursday its calculations of the amount each casino would pay under a proposed payment in lieu of taxes drastically raises taxes for it, Resorts and Bally's — three of the city's smaller casinos — while giving huge tax breaks to big casinos owned or soon to be owned by billionaire Carl Icahn and gambling giant Caesars Entertainment.

Average US 30-Year Loan Rate Rises to 3.93%

Average U.S. long-term mortgage rates edged higher this week after four weeks of declines, but they remained at historically low levels that could entice potential homebuyers.