Statement by N.J. Chamber President and CEO Tom Bracken:
The New Jersey Chamber of Commerce is pleased that, according to news reports, Gov. Phil Murphy says he will focus on economic opportunity and affordability in his State of the State address later today.
As the N.J. Chamber has pointed out consistently, Gov. Murphy's accomplishments have weighed heavily on the “fairer” side of his pledge to make New Jersey’s economy both fairer and stronger.
We believe creating economic opportunity and making New Jersey more affordable are pathways to a stronger economy. We look forward to hearing the governor’s specific plans to make New Jersey’s economy stronger in his second term.
We hope to hear the governor say he will release more of the reported $3 billion remaining in the American Rescue Plan (ARP) fund. As we have previously urged, priorities for these funds should be to:
- provide capital infusions into businesses still suffering from the pandemic-fueled recession;
- supplement the state's “Return and Earn” program which can alleviate worker shortages;
- replenish the state’s Unemployment Insurance Fund so employers are not socked with more tax increases.
We further hope to hear the governor pledge to quickly allocate monies from the federal infrastructure bill to needed projects.
And we hope the governor, in addition to fulfilling his promise of no new taxes, will substantively reduce the tax and regulatory burdens on our businesses.
We expect the governor will have much to say about the ongoing COVID-19 pandemic. The N.J. Chamber strongly believes the business community must do its part to contain the spread of COVID-19 by getting vaccinated, wearing masks and socially distancing.
Supporting our businesses and creating a safe environment for workers and customers are critical if we are to achieve the full throttle economic recovery New Jersey needs.