Commerce and Industry Association of New Jersey

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New Jersey’s Unemployment Insurance Remains Amon..


The taxable wage base is a payroll tax on employers to fund unemployment insurance. New Jersey’s is $33,500, almost five-times more than the federal. Cutting the wage base in half would reduce the burden of paying so much UI payroll tax and increase regional business competitiveness. Pennsylvania’s is only $9,500; Delaware’s is $18,500; and New York’s is $10,700. New Jersey could reach regional business competitiveness by cutting it in half, increasing each year by the rate of inflation.

The goal is to lower taxes for businesses and make the state more regionally competitive. Small businesses stand to benefit from the change.

The unemployment insurance fund has a balance of $1.8 billion, enabling a $380 million tax cut in 2016. The fund should stay in the black with Governor Christie’s cost-saving measures being implemented, these simple changes to improve New Jersey’s business environment while maintaining support for the unemployed and those in hardship.

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    The mission of Commerce and Industry Association is to be the leader in free enterprise advocacy for the purpose of fostering, through education, legislative vigilance and membership interaction, an economic climate that enhances business potential and makes New Jersey a better state in which to live, work and conduct business.

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