When the governor and legislative leaders announced an agreement to raise New Jersey’s income tax rate on millionaires, many in the business community asked, why now? NJBIA, among others, argued that businesses could ill-afford tax increases after months of little to no revenue because of the health emergency. The chairwoman of the Assembly Budget Committee […]
Government Affairs
NJ Business Groups Urge Fiscal Responsibility for FY 2021 Budget
Business groups today urged Gov. Phil Murphy and the Legislature to work toward a more fiscally responsible FY 2021 budget that recognizes New Jersey’s economic realities. Among the calls made by the groups were the elimination of $1 billion in new taxes and a large reduction of $4 billion in borrowing proposed by Governor Murphy. […]
Is New Jersey’s Reopening Moving Fast Enough?
Officials from the governor’s office characterize reopening as a success from the perspective of preventing the spread of COVID-19, though they emphasize that more work needs to be done. From NJBIA’s point of view, however, the pace of reopening, given the fact that our numbers continue to trend in the right direction, is threatening the […]
Prospects Improving for COVID-19 Liability Immunity
NJBIA has been pushing for both the state government and Congress to enact liability protections for businesses as they reopen. It looks like those efforts may be yielding some results. According to NJBIZ, legislative leaders have begun showing support for the concept of providing businesses with limited legal immunity against COVID-19 lawsuits as the state […]
NJBIA Backs Bills to Smooth Economic Reopening
The need to reopen New Jersey’s economy during the coronavirus pandemic has legislators on the Senate Budget and Appropriations Committee embracing the outdoors. The committee today released two bills that will make it easier for businesses like restaurants and small stores to operate on the sidewalk and even closed city streets to protect public health […]