Legal sports gambling in New Jersey won’t ease tax burden: State Senate president

As New Jersey celebrates the ruling that permits sports gambling, Democratic New Jersey Senate President Stephen Sweeney says it’s not enough to fix the states’ tax infrastructure.

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“This helps our situation,” he told FOX Business’ Stuart Varney on “Varney & Co.” on Tuesday. “But it doesn’t fix anything.”

New Jersey’s taxes are the seventh highest in the U.S., according to data from the Tax Foundation.

Sweeney, a proponent of lowering taxes in the state, said he’s still at odds with fellow Democrat Gov. Phil Murphy over his proposal to raise more than $1.5 billion in new taxes to help pay for education, transportation and pension increases.

“We can’t raise enough taxes to fix the structural problem,” Sweeney added.