BUSINESS REPORT

Business leaders provide input on reopening economy

BY Rhonda Schaffler, Correspondent |

We don’t know when New Jersey’s economy will reopen, but Monday Gov. Phil Murphy’s newly-appointed Restart and Recovery Advisory Council — comprised of hundreds of business leaders — began to envision what a reopening would look like. The council is comprised of nine subcommittees representing diverse segments of the state’s economy.

Legislation to protect residents hurt by the economic shutdown is advancing through the State House, including a bill that would create a $100 million emergency rental assistance program for those who have lost income. But
the bill faces an uncertain future as Murphy has vetoed several bills that had much smaller price tags due to the state’s dire fiscal circumstances.

Millions of Americans have not only lost their jobs, but they are also going to lose their health insurance. A new report from the Urban Institute finds 25 to 43 million people could lose their employer-sponsored health insurance if the U.S. unemployment rate hits 20%. That includes 700,000 in New Jersey, although the Garden State does have more safety nets for those residents than other states do. The study was funded by the Robert Wood Johnson Foundation, an underwriter of NJTV News.