New Jersey state Senator Anthony M. Bucco and Senator Steve Oroho issued statements responding to the Murphy Administration’s devastating tax increase on state employers:
Senator Bucco: “After promising no new tax increases this year and watching other states use federal funds to avert massive tax increases on struggling employers, the Governor put through a stealth tax increase at the close of business on a hot summer Friday. He didn’t want anybody to notice a destructive increase that will hit hard in a state with one of the highest unemployment rates in the nation.”
Senator Oroho: “New Jersey has a 7.3 percent unemployment rate, and this unnecessary tax increase on employers will kill more jobs. This was avoidable by using federal funds from the American Recovery Plan. We should have used COVID relief money that the state already has in its possession instead of adding burdens to job creators. Even while he is vacationing in Italy, the Governor is showing no respect for the employers crushed by his excessing closures.”
The $250 million payroll tax increase on businesses and some nonprofits and local governments was coyly unveiled with a vague update on the labor department’s web site. CLICK HEREto view.