In advance of Gov. Phil Murphy’s scheduled state budget address on Tuesday, NJBIA President & CEO Michele Siekerka said the business community is hoping for concrete state actions that help businesses regain their workforce and leverage tax relief to make investments for the future.
Speaking to NJ Spotlight News reporter Rhonda Schaffler on this past weekend’s edition of “NJ Business Beat,” Siekerka said tax credits that help employers pay higher wages for in-demand job would help fill vacant positions, as would state support for childcare so that more parents can afford to return to work.
“We need to get our workforce back,” Siekerka said. “The governor announced last year a $700 million appropriation to help support the childcare industry. None of that money is on the street yet.”
Siekerka also said that while the business community appreciates the targeted COVID-19 assistance received to date, scheduled increases in employers’ unemployment insurance taxes this year and next to pay down debt the state fund incurred during the pandemic will negate that relief.
“Giving with one hand and taking back with the other does not leave the business community ahead,” Siekerka said. “In fact, it takes us back.”
To watch the entire interview, go here.