Taxes that businesses pay into the unemployment fund are due to increase in July and again next summer, but the Legislature might take steps to ease that financial bite.
As the Garden State economy continues to recover from the ravages of the pandemic Gov. Phil Murphy has signed a multi-bill, multi-million dollar small business relief package.
"This is just a matter of modernizing and streamlining some of the processes associated when someone has a total loss on their vehicle," said Asm. Roy Freiman, D-Somerset, a primary sponsor of the measure.
Six measures will offer a combined $235 million in assistance to micro-businesses, bars and restaurants, child care facilities, new businesses, start-ups and other small business operations.
A legislative panel Monday endorsed a 10-bill package helping small businesses recover from the pandemic, including $100 million in federal funding and a variety of additional tax breaks.
Assemblyman Roy Freiman, D-Somerset, said his bill serves as a "circuit breaker" that presses pause on escalating increases should employment or revenues take a plunge.
New Jersey would establish a retirement savings plan for private-sector workers, under a bill now on Gov. Phil Murphy’s desk after being approved Monday by the Assembly.