On June 29, the New Jersey Senate and General Assembly held their final voting sessions before the Legislature’s summer recess. A bill that would provide relief from UI tax increases for small businesses, which the CCSNJ has strongly advocated for, was removed from the Senate agenda and will not move to the Governor's desk for action.

CCSNJ President and CEO released the following statement expressing disappointment that the legislation was not acted upon:

"Today, state government did not act on a bill the CCSNJ has strongly advocated for, which would offset future unemployment insurance (UI) tax increases that collectively totals an approximate $1 billion tax hike on businesses over the next two years. Businesses did their part during the height of the pandemic, shutting their doors to adhere to the state’s mandated public health guidelines. As a result, employers had to lay off workers and the state faced historic unemployment levels that heavily drew down the New Jersey’s UI fund. This draw down will now lead to unfair tax increases on businesses that state government had the power to stop, but instead chose to turn a blind eye to. The continued plight of small businesses, especially those that are women and minority-owned, remains very real. It is well-known that the state is flush with cash due to federal recovery money. The CCSNJ is disappointed that Governor Murphy and others did not find use of these funds as appropriate to use to avoid a tax increase on New Jersey’s small businesses."

To read the CCSNJ’s testimony on this bill, please click here.