A report released by the Star Ledger newspaper a few days ago says one third of all New Jersey small businesses have closed. Many more small businesses won't make it through the winter. Small businesses are the back bone of every local economy. They provide jobs and local tax revenue. Without the support of small businesses many wonderful community events and activities would not happen. I doubt we would have local radio stations. In response to concerns about even more small businesses closing Republicans in the New Jersey State Senate are calling on Governor Murphy and fellow legislators to pass a substantial aid package for small businesses. The Republican Senators on the Budget and Appropriations Committee say sales tax revenues are out pacing Governor Murphy's "dire" predictions from a several months ago. According to the Office of Legislative Services sales tax revenue grew to 830 million dollars through November 20th. That's an increase of 30 million dollars over last year. In a press release yesterday Senator Declan O'Scanlon said: The Governor "was building a massive surplus with borrowed and taxed funds that's not helping anyone but himself." Senator Sam Thompson in the same release said "Governor Murphy is sitting on unspent CARES Act funds and a growing multi-billion dollar surplus that are collecting dust while people are suffering." Republican Senators would like to see 300 million dollars of CARES Act funds already given to New Jersey go toward grants and loans for struggling small businesses and non profit organizations.
Source: N.J. Senate Republicans