Economic & Recovery News Release: 6/20/2022

June 20, 2022
 
Content Curated By Scott Goldstein
 
 INSIDE TODAY'S UPDATE
 
  • COVID-19 vaccinations start for kids six months to five years old.
 
  • State Assembly passes bill to offset unemployment tax hike for businesses.
 
  • They won their bid for hosting 2026 World Cup games, now N.J./N.Y. officials are stating their case to host the final game.
 
COVID Vaccinations Start for Kids Six Months to Five Years Old
The nation’s infants, toddlers and preschoolers are getting a chance at COVID-19 vaccination as the U.S. rolls out shots for for kids six months to five years old. Shipments arrived in some locations over the weekend and some opened up appointments for Monday. The FDA greenlighted the Moderna and Pfizer shots for tots on Friday and the CDC recommended them Saturday. (The Associated Press)
 
State Budget
State Property Tax Relief is Coming for Homeowners and Renters. What is Business Getting?
N.J. Chamber President Tom Bracken said the state's proposed ANCHOR property tax relief program is an aggressive move for residents of N.J., “but we have to have some aggressive moves for the business community because we need to create a more robust economy.” Bracken pointed out the ANCHOR program will cost $2 billion and “we need to have money to pay for these programs and the only way to create reliable, sustainable long-term income to pay for these programs is to have a robust business community.” (New Jersey 101.5)
 
State Budget
State Assembly Passes Bill to Offset Unemployment Tax Hike for Businesses
N.J. businesses would be spared two tax hikes to replenish New Jersey's unemployment insurance fund, under a bill (A3683) passed unanimously by the Assembly. It would award corporate business tax and gross income tax credits to businesses to offset the tax hikes. After millions of jobless claims during the pandemic depleted the state’s unemployment fund that pays out claims, an automatic tax hike was triggered to replenish it. (NJ Monitor)
 
Juneteenth: Why Harmon Feels Lessons Learned from Past are Keys to the Future
“Slavery is a scar on the history of America, (and that) acknowledgement puts us on a path to a better understanding of our history and working toward a more harmonious coexistence,” said John Harmon, president of the African American Chamber of Commerce of New Jersey. Harmon is embracing Juneteenth as a national holiday – one that he said needs to serve as a day that educates and inspires. (ROI-NJ)
 
World Cup 2026
They Won their Bid for Hosting 2026 World Cup Games. Now N.J./N.Y. Officials are Stating their Case to Host the Final Game
MetLife Stadium, in East Rutherford, was one of the 11 venues in the U.S. selected Thursday to host games during the 2026 FIFA World Cup soccer tournament. And, in a boost to South Jersey, Philadelphia also was selected. Next, New Jersey will start stating its case to host the final. From food, culture, fans – and airport connections to anywhere on globe – area officials feel they have it all. (ROI-NJ)
 
World Cup 2026
Now that N.J. will Host World Cup Games, What About the Impact?
Steve Politi, sports columnist with NJ Advance Media, discusses the successful World Cup bid, its potential impact on the region, and the key logistics to be worked out. (NJ Spotlight News)
 
Biden Signs Shipping Law that He Says Can Cut Consumer Costs
President Joe Biden signed legislation Thursday meant to make shipping goods across oceans cheaper – a move the White House says will help lower retailer costs that have remained high since the start of the pandemic and helped fuel record inflation. It empowers the Federal Maritime Commission to investigate late fees charged by carriers while prohibiting ocean carriers and marine terminals from refusing to fill available cargo space. (The Associated Press)
 
PHOTOS: Hundreds of N.J. Chamber Members Gather at the State Museum for our 25th Annual 'Open House'
Business and state government leaders filled the galleries and the outdoor mall of the New Jersey State Museum in Trenton on June 9 for the New Jersey Chamber of Commerce's 25th Annual Open House. See pictures here. (N.J. Chamber of Commerce)
 
RESCHEDULED: N.J. Chamber's 'Helping Small Business Grow' Webinar Series
Rescheduled to Tomorrow, June 21, at 9 a.m.:
How Small Businesses Can Cope with Inflation
Find out what you can do to manage the challenges of an inflationary economy with guest speaker Tom Sullivan of the U.S. Chamber of Commerce. For more information and to register for this free webinar on this new date, June 21, click here. If you have already registered for this webinar, you have been automatically re-registered for the new date and time. (N.J. Chamber of Commerce)
 
Join the N.J. Chamber's Drive for Equality: Sign Up for Our 'Supplier Diversity Collaborative' and Work Towards Real Change
By signing your company's name to the N.J. Chamber's 'Supplier Diversity Collaborative,' you will strengthen the business community’s commitment to hiring a diverse group of suppliers and contractors. Expanding a commitment to working with New Jersey's minority-, women- and veteran-owned businesses is good for business on many levels. More information here. (N.J. Chamber of Commerce)
 
Looking to Get Vaccinated? Here's an Easy Way to Find COVID-19 Vaccines Near You.
Just punch in your area code. You can even search for a specific vaccine. (vaccines.gov)
 
Were you forwarded this newsletter? For more information about the N.J. Chamber, email [email protected]
 
Business Resources
 
Reopening Playbook for Employers (U.S. Chamber of Commerce)
 
Vaccine Guide for Businesses (U.S. Chamber of Commerce)
 
 
Guide to Starting a Business in N.J. (New Jersey Business Action Center)
 
 
Jobs and Hiring Portal Job Seekers | Employers (State of N.J.)
 
 
The Best Tool for Your Business - Membership in the N.J. Chamber
 
The N.J. Chamber provides members with guest speakers, webinars, networking opportunities and discount programs that help businesses grow. The N.J. Chamber also advocates for pro-growth and pro-business legislation.
 
 
You are welcome to share this newsletter via email, social media or on your organization's website. Please credit the New Jersey Chamber of Commerce with a link to http://njchamber.com.
 
The New Jersey Chamber of Commerce is staying on top of pandemic and economic recovery developments. For news media requests, please email Scott Goldstein.
 
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