Coronavirus Update for New Jersey Businesses 12/30/2020

Created: 30 December 2020

Coronavirus Update for New Jersey Businesses 12/30/2020

Today’s News:

Be prepared to apply – more forgivable business loans are coming from the feds. State minimum wage will automatically increase by $1 on Jan. 1. Christmas air travel broke pandemic records. 

Be Prepared. More Forgivable Loans Under the Federal Paycheck Protection Program are Coming – The New Jersey Chamber of Commerce has been receiving questions about the new federal COVID-19 relief legislation, specifically about changes to the PPP forgivable loans. The PPP program will resume soon thanks to new funding from the relief legislation. We were informed by the N.J. district director of the Small Business Administration (SBA) that it could take up to 10 days before the new application forms for PPP loans are ready. We suggest that any organization interested in applying begin discussions with their bank now so they can be ready to fill out the application as soon as it is available.  

State Minimum Wage to Automatically Increase by $1 on Jan. 1 – When the calendar flips over to 2021, New Jersey’s minimum wage will increase by $1, to $12 per hour, as part of a law signed in early 2019 that calls for yearly increases leading up to an eventual minimum wage of $15. “We realize that there are a lot of people out there who are going through some difficult times, a $1 increase will help them dramatically,” said Tom Bracken, president of the N.J. Chamber of Commerce. “But at the same time, businesses are suffering dramatically and they’re going to incur an increased expense.” (NJ 101.5) 

Feds: Supplemental Unemployment Payments Will Not Be Interrupted – An email received by states from the U.S. Labor Department says federal unemployment benefits will continue, without interruption, under the newly signed federal relief legislation. The new relief package provides supplement payments from the federal government for all workers receiving unemployment insurance at a level of $300 from the week ending Jan. 2 through March 13. (N.J. Labor Department) 

Despite COVID-19 Safety Warnings, Christmas Air Travel Broke Pandemic Records – Transportation Security Administration officials said 1.3 million people were screened at airports nationally on Sunday, which was the highest volume since the beginning of the pandemic. ( 

Gov. Murphy Lost a Cabinet Member to the Biden Administration – New Jersey Human Services Commissioner Carole Johnson is joining the Biden administration to coordinate a national testing strategy for COVID-19, the president-elect’s transition team said. ( 

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