Commerce and Industry Association of New Jersey

(201) 368-2100 Contact Us Login


Business Beat

Weekly business updates in an e-newsletter

Back to listing

Lower The Taxable Wage Base For Unemployment Insurance
June 1st, 2017


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.

The goal is to lower taxes for businesses and make the state more regionally competitive. Small businesses stand to benefit from this simple 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 back with Governor Christie’s cost-saving measures being implemented, assuming it isn’t raided to fund other programs. With the surplus, there is ample opportunity to make these simple chances to improve New Jersey’s business environment while maintaining support for the unemployed and those in hardship.

  • Paramus, New Jersey


    61 South Paramus Rd., Paramus, NJ 07652

    P: (201) 368-2100

    F: (201) 368-3438

    E: Contact Form

  • Trenton, New Jersey


    222 West State Street S-212, Trenton, NJ 08608

    P: (609) 695-5900

    F: (201) 368-3438

    E: Contact Form

  • About Us

    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.

  • Connect with us

    Subscribe to our email blast