TRENTON, N.J. — State Sen. John McKeon is applauding Gov. Phil Murphy’s proposal to increase taxes on internet gaming and sports wagering, calling it a necessary step to boost state revenue and support problem gambling programs.
“I wholeheartedly support Governor Murphy’s proposal to increase the tax on iGaming and sports betting,” McKeon said in a statement. “The issue of raising these tax rates has been something I have championed for over a year now.”
New Jersey’s current tax rates on online gaming and sports betting are lower than those in neighboring states, such as Pennsylvania and New York, where operators face significantly higher levies. McKeon argues that raising New Jersey’s rates would ensure gaming companies pay their fair share while strengthening the state’s financial position.
The proposal also aims to direct additional funds toward programs that address gambling addiction. McKeon previously introduced a plan to allocate a portion of the increased tax revenue to prevention, education, and treatment services for compulsive gamblers.
“Raising these tax rates will not only help New Jersey’s financial stability but will also assist the countless individuals struggling with gambling addiction in our State,” McKeon said.
As Murphy pushes for higher online gaming taxes, supporters see an opportunity to increase state revenue while expanding gambling addiction services.
