Skip to content

Small Businesses Disappointed Newly Signed NJ Budget Fails to Stabilize Unemployment Insurance Trust Fund, Look to Action in the Fall to Protect Main Street

Small Businesses Disappointed Newly Signed NJ Budget Fails to Stabilize Unemployment Insurance Trust Fund, Look to Action in the Fall to Protect Main Street

June 30, 2022

Small Businesses Disappointed Newly Signed NJ Budget Fails to Stabilize Unemployment Insurance Trust Fund, Look to Action in the Fall to Protect Main Street

FOR IMMEDIATE RELEASE TRENTON, N.J. (June 30, 2022) – New Jersey Governor Phil Murphy today signed the FY2023 State Budget, and Eileen Kean, New Jersey State Director for the National Federation of Independent Business (NFIB), the state and nation’s leading small business advocacy organization, expressed deep concern that the nearly $51 billion spending plan failed to protect Main Street businesses from devastating tax hikes tied to the state’s Unemployment Insurance (UI) Trust Fund. “NFIB thanks Senators Vin Gopal (D-11) and Fred Madden (D-4) for their unwavering support to replenish New Jersey’s UI fund and offer real financial help to Main Street businesses,” said Kean. “S-733 was pulled from the Senate Board list on the final day of voting before summer recess even though the bill had 22 bipartisan senators who cosponsored the legislation.” “Small businesses alone should not shoulder responsibility for the government-mandated pandemic shutdowns that caused widespread unemployment,” continued Kean. “Businesses are still struggling to stay afloat post-pandemic, as they continue to deal with supply chain disruption and staffing issues. Adding an increased unemployment tax to this burden is economically destructive and simply not fair.” “NFIB is grateful that Governor Murphy’s front office has committed to working with lawmakers to reach a deal when the Legislature reconvenes in the Fall,” concluded Kean.

###

For more than 75 years, NFIB has been the voice of small business, advocating on behalf of America’s small and independent business owners, both in Washington,?D.C.,?and in all 50 state capitals. NFIB is nonprofit, nonpartisan, and member-driven. Since our founding in 1943, NFIB has been exclusively dedicated to small and independent businesses and remains so today. For more information, please visit?www.NFIB.com.
Get to know NFIB

NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.

Receive our newsletter and email notification
Knowledge is power. Let us help you stay informed with breaking legislative news, regulatory updates, business tips, and more.

Related Articles

NFIB and Community Bankers Association of GA hosted a town hall on Aug. 6 2024 in Gainesville Georgia
July 10, 2025
Legislative Town Hall Brings Lawmakers, Small Business Owners T…
The meeting is one of several planned throughout the state in the coming we…
Read More
July 8, 2025
Aug. 5 Webinar to Help Employees Return to the Workplace
The program is presented by the REWARD Employee Support Network.
Read More
July 8, 2025
NFIB: Mississippi Sales Tax Holiday Could Be a Boon to Main Str…
This year’s tax-free weekend begins Friday, July 11-13, and covers purchase…
Read More
July 7, 2025
How to Navigate the Claims Process and Recover from Tropical De…
Here are some things to remember when it’s time to file an insurance claim.
Read More

© 2001 - 2025 National Federation of Independent Business. All Rights Reserved. Terms and Conditions | Privacy Policy | Accessibility