City Councilman Curtis Jones Jr. was the only nay vote Thursday against a bill sponsored by Councilman Bill Green that exempts private investment or hedge funds and their general managers from paying business taxes.
"I think it would be a problem for me to vote for that and then have to consider a real estate increase for the third year in a row," Jones said. "It was a vote of conscience."
"For us to exempt a certain group of businesses from taxation... I just could not do it," Jones said, adding that he informed Green about his decision prior to voting on the bill which passed 16 to 1.
Green and the Nutter Administration said the measure would be positive for the city, help generate revenue and create jobs. For more information, check out this week's Daily News story here.