The non-partisan Office of Legislative Services said the state will close its books at the end of next year with $550 million more than predicted by treasury officials in October.
The announcement puts the state in line with guidance the federal Centers for Disease Control put in place on April 2 for domestic excursions.
"Given the trajectory we are on, we believe this is the right time to put our program into higher gear," Gov. Phil Murphy said April 5.
Several of the state’s largest chambers of commerce and trade organizations are floating a major paydown of some of the state’s debt using federal relief funds with a goal of freeing up money in the coming years.
The additions are another major push toward the state’s goal of qualifying adults ages 16 and up for inoculations, ahead of President Joe Biden’s May 1 deadline.
The cap has cost New Jerseyans another $3 billion in annual taxes. In 2018, the nonprofit Tax Policy Center estimated that completely repealing the SALT cap would cost the federal government $620 billion of tax revenue between 2018 and 2028.
For the week ending March 27, 19,475 claims were filed according to data released April 1. The surges were evident “across industry sectors,” and fueled in part by “a bump in claims from the self-employed,” reads a statement from the New Jersey Department of Labor and Workforce Development.
The funding is part of a broader $100 million package in proposed state grants that would come out of its slice of federal money under the Coronavirus Aid, Relief and Economic Security Act.
The business manager of the International Union of Operating Engineers Local 825 talks about what the Biden administration's $2 trillion infrastructure plan could mean for New Jersey.
The governor saw high approval ratings in his job handling of the existing pandemic. Additionally, 99% of Democrats said they were confident of Biden’s ability to get the pandemic under control, compared to 47% of Republicans.
“The decision to relocate to North Carolina was driven by a business need to bring our corporate functions closer to our largest production facility to improve collaboration and increase efficiency,” said Hayward spokesperson Monty Hagler.
President Joe Biden the legislation providing an additional 30 days for the U.S. Small Business Administration to process pending applications.