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Senator says relief is needed for NJ’s businesses to avoid further hardship
Trenton – In response to the New Jersey Department of Labor’s recent announcement that the unemployment insurance tax will increase $250 million, Senate Majority Conference Leader Vin Gopal today sent a letter to Governor Phil Murphy urging him to immediately dedicate a portion of New Jersey’s federal relief funding to offset this burden on the business community. The text of the letter is below:Dear Governor Murphy,
I am writing to you today to respectfully request part of the funds from New Jersey’s federal relief be dedicated towards the Unemployment Insurance (UI) Trust Fund to reduce the tax increase New Jersey businesses will soon have to endure as they continue to try to recover from the hardships due to the coronavirus pandemic.
I thank you for the work done thus far giving state relief grants to the business community, however, businesses are still trying to stay afloat after the years long struggle they faced. An increase in the unemployment insurance tax that businesses must pay come October 1st comes at a particularly difficult time for many of our state’s businesses who are just beginning to re-establish their economic footing.
The small businesses can get help to keep their stores running smoothly and efficiently if the UI fund receives part of the state’s portion of the American Rescue Plan Act (ARPA) funds or remaining CARES Act funds. The ARPA was specifically created to assist State and Local governments with their economic recoveries, and the unemployment insurance tax has had a negative economic impact on the state and therefore would qualify.
Once again, I greatly appreciate the efforts made to keep New Jersey’s businesses open and your commitment to keeping our constituents safe. Please consider my request on behalf of the business community to take action now in order to save the backbone of our economy from crippling under this impending tax hike on October 1.
Should you have any questions or comments, you can contact me at SenGopal@njleg.org, or by phone at (732) 695-3371.
Thank you for your consideration.
Sincerely,
Vin Gopal
Senator, 11th District
