Get down to business – New Jersey Business Magazine

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This month rings in a new two-year session of the Legislature with newly elected lawmakers, new Senate leaders, and a new four-year term for Governor Phil Murphy. But will this new beginning produce the same old approach in Trenton, or a policy with a greater focus on the survival of New Jersey businesses and the jobs they offer?

My heart goes out to the employers for the challenges they have had to overcome over the past two years due to the pandemic. Government-ordered closures of non-essential businesses may b. beingbehind us, but New Jersey employers are now facing unprecedented challenges for the workforce. These include labor shortages (although New Jersey has the third highest unemployment rate in the country) and supply chain disruptions that have fallen below the number of employeesoyer’s efforts to maintain and expand her business.

As the New Jersey government prepares for its biennial changing of the guard, the NJBIA will urge state decision-makers to prioritize the resources and programs that New Jersey businesses need.

For example, The bill that Governor Phil Murphy recently signed to extend the childcare tax credit for the 2021 tax year was a good start as it financially allows more working parents, especially mothers, to return to work. However, in outorder for In order for employees with small children to continue to work, the expansion of the child care tax credit must be extended beyond the tax year 2021. NJBIA urges lawmakers to address this.

Small business owners in New Jersey are suffering as a result. Too many couldn’tAccess government COVID-19 economic aid programs due to restrictive criteria and lack of funds. Recently, the governor tabled a plan to lawmakers proposing to use $ 252.6 million of New Jersey’s $ 6.2 billion in the U.S. Rescue Plan Act (AR.)PA) Funds for economic support for COVID-19, but this plan does not include direct spending for the New Jersey small business community.

The NJBIA will redouble its efforts to ensure more federal ARPA dollars go to small New Jersey businesses that collectively Before the COVID-19 pandemic, created jobs for 49.8% of the workforce in the private sector of the state. Small businesses must be the 220th Legislature’s priority when it begins its new session on January 11th.

New Jersey’s high taxes and affordability challenges dominated the political debate in the last election and we hope state officials show they heard the voters’ message by saying no to tax hikes and costly new business mandates. The focus for 2022 must be on recovery and reinvention in order for our business to beEaters have the resources to survive these difficult times and emerge stronger on the other hand.

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