The 10th District legislators are calling on Governor Phil Murphy to immediately distribute portions of the CARES Act funding to help New Jersey’s suffering small businesses. Senator Jim Holzapfel and Assemblymen Greg McGuckin and John Catalano believe the $2.1 billion of unspent federal funding the Governor is sitting on could make a major impact on businesses that are struggling to survive because of COVID-19 and the extended shutdown by the Governor.
Senator Holzapfel and Assemblymen McGuckin and Catalano are urging Murphy to allocate some of the $2.1 billion of unspent CARES Act funding to help struggling small businesses in New Jersey. (Pixabay)
“The billions of dollars from the CARES Act is crucial for the survival of our small businesses, non-profits, and local governments,” stated Senator Holzapfel. “The Governor has been stalling for four months to distribute these funds. Instead, he picks and chooses what businesses will survive or not. For example, Governor Murphy has distributed $6 million of the $2.1 billion to commercial rental assistance located in just 64 of the 565 municipalities in the state. This money is for all of New Jersey not just the towns our Governor chooses to favor.”
According to a published report by NJ Spotlight, 97.7% of the CARES Act relief funds delivered to New Jersey remains unspent four months after receipt from the federal government.
“Local businesses deserve this funding that our federal government has provided for New Jersey and it’s recovery,” added McGuckin. “The survival of our Main Streets and the people who work in small mom and pop shops is on the line and the Governor is playing games with the funding they rightfully deserve.”
Governor Murphy previously vetoed attempts by the Legislature to dedicate portions of the CARES Act funding to support small businesses, including a $100 million appropriation to support the hospitality industry and restaurants. These industries have been greatly affected by the extended shutdowns and the Governor’s ever-changing executive orders.
“This money was intended to be distributed quickly and proportionately to all small businesses across the state, not just those located in urban areas,” said Assemblyman Catalano. “Everyone is entitled to this federal relief and without these funds we’re sure to see increases in property taxes and inflation to make up for losses.”
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