Tag Archives: Sen. Ed Durr
New Jersey reacts to Ørsted Ocean Wind cancellation shocker
The aftermath is still unfolding Wednesday afternoon — and causing a lot of questions, drama and uncertainty in the state. It all comes against the backdrop of next week’s legislative elections (with offshore wind a central campaign issue in many races), when all 120 seats are up for grabs.Gov. Phil Murphy and legislative leaders all responded with strongly worded statements and reactions, which came ripping through email boxes and across social media accounts in the evening hours on Halloween, which you can read more about here. That continued Wednesday — especially from Republican lawmakers and leaders, who have long questioned the feasibility of offshore wind as well as its potential impacts, leaning into the issue heavily on the campaign trail. >>click to read<< 17:20
Corporate Welfare: Lawmakers pass controversial bill to give tax break to offshore wind developer
Lawmakers narrowly advanced fast-tracked legislation Friday that would give a Danish company a multimillion-dollar tax break for its offshore wind project, despite objections from Republicans who slammed it as “corporate welfare.” The bill would allow Ørsted, the company approved to build a 1,100-megawatt project 15 miles off the Atlantic City coastline, to keep federal tax credits that otherwise would return to ratepayers. The value of the credit would be $2.40 per year per ratepayer, by Ørsted’s estimate, but the company’s total potential savings is unclear. Critics questioned why legislators should give “a corporate bailout to a foreign company on the backs of New Jersey ratepayers,” as Assemblywoman Vicky Flynn (R-Monmouth) put it. >click to read< 09:25
