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Senators Propose a Bill to Rescue Atlantic City

Atlantic City, one of the world’s most popular locations for gamblers and casino fans, has been going through some tough times recently with many of its famous casinos being forced to shut their doors and make staff unemployed because of dwindling numbers of people coming through the doors and even less money going into the bank.

Four of the boardwalk city’s casinos have been closed in 2014 already, with another to follow soon according to this article published on the Two Big Ladies bingo comparison site recently; making it a scary time for the residents who rely on the gambling industry for both employment and all-round income for the area.

However, there may be light at the end of the tunnel for the residents and staff of Atlantic City. The eight casinos left open on the boardwalk could be aided if two state senators get their way, as their idea is to give them a break from their taxes would let the casinos collectively pay $150 million in lieu of taxes for two years.

It would redirect an investment alternative tax, which is currently only used for redevelopment projects, to help them to pay off between $25 million and $30 million of Atlantic City's debt each year. The Trump Taj Mahal, which employs around 3,000 people, has been calling for any kind of assistance to prevent its expected closure before the New Year, and it may have arrived just in time if the proposals are passed.

While there is no doubt that it won’t necessarily save Atlantic City and get it back on its feet with eight thriving casinos, it is predicted that the motion would “stop the bleeding” as former mayor James Whelan put it, a man behind the proposal now he is in the role of senator.

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