Lawmakers Assemble Effort To Keep Atlantic City From Going Bankrupt
ATLANTIC CITY (CBS) -- Lawmakers in New Jersey came together in an effort to keep Atlantic City from going bankrupt.
Over the weekend more than a dozen South Jersey Democratic Assembly Members inked a letter to Speaker Vincent Prieto asking him to post financial recovery bills for a vote.
Assembly Majority Leader Democrat Louis Greenwald spearheaded the letter.
"Bankruptcy cannot be the fall back position," Prieto said. "Bankruptcy would financially cripple the Atlantic city. It would have irrevocable consequences. The damage to the Atlantic County region, as well as to the South Jersey region overall would be devastating."
Greenwald says all sides need to work together to find a solution ASAP.
"Ten thousand jobs have already lost on the casino side, billions of dollars of revenue have diminished and we are now seeing approximately 100 million dollars in debt," Prieto said.
The letter says in part: 'We do not ask you or any member to support this legislation. We do not ask you or any member to eliminate their vocal opposition to these bills. Our request is simple, let us serve the people of New Jersey by considering this legislation.'
