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.

“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.