N.J. Gov. McGreevey, saying hes gay, to resign

[Keyser Soze]

N.J. Governor McGreevey To Resign

POSTED: 2:42 pm EDT August 12, 2004
UPDATED: 4:04 pm EDT August 12, 2004

NEW YORK -- NewsChannel 4 has learned that New Jersey Gov. James McGreevey is planning on stepping down from office after more than 2 years of service.

N.J. Gov. McGreevey To Resign

McGreevey, a former prosecutor, came into office vowing to end corruption, but in recent months a number of his political aides and fundraisers have been accused of corruption ranging from alleged payoffs to hiring a prostitute.

McGreevey has not been accused of any wrongdoing, and has denied any wrongdoing in the past.

Should McGreevey indeed leave office, his successor under the state constitution would be Richard Codey, the current president of the state senate.

McGreevey, the state's 51st governor, took office 2 1/2 years ago, and despite inheriting a $5 billion budget deficit, he steadfastly refused to boost income taxes for most New Jerseyans, instead raising taxes on millionaires, casinos and cigarettes.

But he has been dogged by several scandals involving fund-raising.