The Assembly has unanimously passed important legislation that would provide significant relief from nearly $1 billion in increased unemployment insurance taxes through tax credits, while also requiring the state to pay off a federal UI loan before another $75 million tax increase takes effect.
With only days before the start of a new fiscal year that will raise the UI taxes again, NJBIA thanks the Senate for posting bill S-2378/S-733 (sponsored by Senators Gopal and Madden) this week and we urge Gov. Phil Murphy to sign it once it reaches his desk.
New Jersey businesses do not deserve a $1 billion tax increase – which is a tax on jobs and not on income, property, profit or wealth. Tell the Governor to sign this legislation when it arrives on his desk.