A Democratic candidate for New Jersey governor says he'll cancel the state takeover of Atlantic City if he is elected next year.
Phil Murphy spoke Friday in the gambling resort, where he received the endorsement of Democratic political leaders and African-American clergy.
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Republican Gov. Chris Christie's administration seized power Wednesday over Atlantic City's assets and major decision-making after determining the city is unable to make the hard choices needed to stabilize its finances and pay off its half-billion-dollar debt.
Murphy says an austerity plan proposed by the city should be given a chance to work.
Murphy is a billionaire former chairman of Goldman Sachs. He elbowed most potential Democratic opposition out of the way a year before the election.