GOVERNOR MURPHY, SENATE PRESIDENT SWEENEY, SPEAKER COUGHLIN, SENATE BUDGET CHAIR SARLO, AND ASSEMBLY BUDGET CHAIR PINTOR MARIN ANNOUNCE FISCAL YEAR 2022 BUDGET AGREEMENT ON KEY TAX RELIEF MEASURES
Governor Murphy, Senate President Sweeney, Speaker Coughlin, Senate Budget Chair Sarlo, and Assembly Budget Chair Pintor Marin announced an agreement on key middle-class tax relief and property tax relief measures in the Fiscal Year 2022 Budget.
“Tax relief is a critical component of a stronger and fairer New Jersey,” said Governor Murphy. “With each budget I have introduced, we have provided greater relief to those who need it most – through our continued expansion of the Earned Income Tax Credit, the establishment and expansion of a Child and Dependent Tax Care Credit, increased tax relief for veterans, middle-class tax rebates, and now the long-overdue expansion of the Homestead Benefit to make sure relief reflects reality. I’m proud to join with my partners in the Legislature to make sure that the best state to live in America is more affordable for families.”
GOVERNOR MURPHY, SENATE PRESIDENT SWEENEY, AND SPEAKER COUGHLIN ANNOUNCE AGREEMENT ON FISCAL YEAR 2022 BUDGET PROPOSALS TO MAKE HIGHER EDUCATION AND RETIREMENT MORE AFFORDABLE
Governor Phil Murphy, Senate President Stephen Sweeney, and Assembly Speaker Craig Coughlin announced further agreements in the Fiscal Year 2022 budget that will invest in New Jersey’s long-term economic growth by making college more attainable and retirement more affordable.
“In our continued drive to build a more resilient post-pandemic future for our State, this budget lays the foundation for a more affordable New Jersey where everyone has the opportunity to prosper from young adulthood well into retirement,” said Governor Murphy. “We’re providing the resources to help parents save to send their children to college, help graduates get a fresh start in life without the crushing burden of student loans, and help seniors age in place by guaranteeing more of their hard-earned retirement income.”
GOVERNOR MURPHY SIGNS PACKAGE OF LEGISLATION TO PROVIDE $235 MILLION IN SMALL BUSINESS RELIEF
As New Jersey continues to recover from the ravages of the COVID-19 pandemic, Governor Phil Murphy signed six bills – A5704, A5705, A5706, A5707, A5708, and A5709 – which provide additional aid to small businesses that continue to suffer from the economic effects of the pandemic. Together, the bill package provides $235 million to small businesses throughout the state, allowing the New Jersey Economic Development Authority (NJEDA) to fulfill all eligible applications submitted during Phase IV of the EDA’s Small Business Emergency Grant Program.
“Throughout the past year, we have focused our relief efforts on supporting New Jersey’s small businesses so they can emerge from the pandemic stronger than before,” said Governor Murphy. “This additional funding will help us add to the more than 60,000 small businesses that have received aid to date.”
FIRST LADY TAMMY MURPHY TO LAUNCH MINI-FAMILY FESTIVAL SERIES TO ADDRESS MATERNAL AND INFANT HEALTH CRISIS
As part of her Nurture NJ initiative, First Lady Tammy Murphy launched a series of Mini Family Festivals aimed at connecting families with state, county, and local programs and resources to address New Jersey’s maternal and infant health crisis.
“Since launching in 2018, our Family Festival series has been incredibly successful at connecting families with community, state, and federal resources to combat New Jersey’s maternal and infant health crisis,” said First Lady Tammy Murphy. “Our Mini Family Festival series aims to take our approach a step further and meet mothers and families in trusted locations they access frequently, like hospitals and health care centers. Transportation is a major social determinant of health and by bringing a combination of resources to these targeted locations, we are enabling our mothers and babies to receive comprehensive care and critical information all in one location.”
GOVERNOR MURPHY AND LEADING NEW JERSEY CEOS LAUNCH NEW JERSEY PAY IT FORWARD PROGRAM TO SUPPORT POST-PANDEMIC CAREER SEEKERS
Governor Phil Murphy and the New Jersey CEO Council, a coalition of Chief Executive Officers (CEOs) from some of the state’s largest and most widely-recognized companies, announced that they are launching the New Jersey Pay It Forward Program. This innovative program will provide interest- and fee-free loans from a revolving fund to support low‐income New Jersey career seekers participating in approved training programs. New Jersey is the first state in the country to dedicate public resources to a fund of this nature.
“As we emerge from the COVID-19 pandemic, it is crucial that we remain focused on building a stronger, fairer New Jersey economy. The New Jersey Pay It Forward Program will play a key role in achieving this goal by opening up new opportunities for New Jerseyans who have been shut out of good, family-sustaining jobs in the past,” said Governor Murphy. “I am excited to partner with the members of the New Jersey CEO Council to launch this first-in-the-nation program that will bolster New Jersey’s recovery from COVID-19 and set the stage for long-term, equitable economic growth.”