The New Jersey Business Coalition, a collection of more than 100 leading business and nonprofit groups, submitted a letter to New Jersey’s Legislature this week urging to consider several priorities, including a pause on any further legislation that imposes additional expenses on business in the state.
“The COVID-19 pandemic and state-mandated shutdown have devastated New Jersey’s business community,” the letter read. “Businesses face severe revenue losses, due to shutdowns and reduced operating capacity, and increased operating expenses due to implementation of public safety measures. A handful of programs have helped businesses weather these difficult times.”
The coalition urged that a particular focus be made on structural reforms, unemployment insurance, business liability protections, financial assistance for businesses, workforce issues, and a reopening framework.
To see the full letter, click here.
Dear legislators:
The forced closures by Governor Murphy of small businesses due to the pandemic, especially gyms and restaurants closed for six months and reopened with imposed restrictions were especially hurt, many of us will not make it into the New Years. Increasing payroll taxes, real estate taxes, employee wages, health care costs, and other newly imposed fees sets the bar higher and will only further the likelihood of more businesses closings.
Increasing the closure of thousands of small businesses will have a prolonged adverse effect on the NJ’s economy with the loss of hourly wage jobs that in turn will increase unemployment, put more families on welfare and further stress the state’s teetering economy.
A good number of the businesses that do survive the pandemic will relocate out of state and the risk of starting new businesses is very unlikely. The risks are greater than the rewards.
The state should not count on federal bailouts or continue to subsidize longterm unemployment, its not sustainable and kicking the can down the road. The state needs to responsibly reduce spending by shrinking government agencies, subsidizing unnecessary social services and providing financial assistance to salvageable businesses.
The state must focus on providing small businesses with more funding,
grants and tax relief. The extended lock down of NJ versus neighboring states proved negligible and crushing the economy. Economically post elections the worst is yet to come.
I beg all state legislators to listen to your constituents and do the right thing.
Respectfully,
Edward J McNeill JR
President/Owner
NJAC
As another small business owner, of 38 years of paying taxes to N.J., WHY DO YOU ALL THINK WE CAN MAKE IT IF YOU RAISE EVERYTHING IN THE ABSOLUTE WORST TIME IN OUR HISTORY!!! IT IS TOTALLY OBVIOUS YOU ARE CORPORATE LY POCKETED AND WANT TO ELIMINATE SMALL BUSINESSES!!!