On this past weekend’s episode of Minding Your Business, NJBIA Vice President of Government Affairs Christopher Emigholz discussed the major tax increases facing New Jersey businesses with Gov. Phil Murphy declining to use federal funds to replenish the state’s Unemployment Insurance Trust fund.
“The state has received billions of dollars in CARES Act that they could use to replenish the UI fund and billions of dollars in American Rescue Plan funds that they could use,” Emigholz told host Bob Considine.
“There are examples of states using CARES Act and American Rescue Plan (for that purpose. Historically, states have even used their own General Fund coffers – and we did way back then – to replenish the UI funds to avoid this tax.”
Emigholz also discussed the state’s recently announced Return and Earn program to incentivize people back to work.
NJBIA’s “Minding Your Business” is a weekly TV show that airs on News 12+ at 9:30 a.m. every Saturday and Sunday.
To see all past episodes of NJBIA’s “Minding Your Business,” click here.