Bill Text: NJ SR65 | 2020-2021 | Regular Session | Introduced
Bill Title: Urges creation of federal COVID-19 Business and Employee Continuity and Recovery Fund.
Spectrum: Bipartisan Bill
Status: (Passed) 2020-04-13 - Filed with Secretary of State [SR65 Detail]
Download: New_Jersey-2020-SR65-Introduced.html
Sponsored by:
Senator PAUL A. SARLO
District 36 (Bergen and Passaic)
Senator LINDA R. GREENSTEIN
District 14 (Mercer and Middlesex)
SYNOPSIS
Urges creation of federal COVID-19 Business and Employee Continuity and Recovery Fund.
CURRENT VERSION OF TEXT
As introduced.
A Senate Resolution urging creation of a federal COVID-19 Business and Employee Continuity and Recovery Fund.
Whereas, The United States faces an unprecedented public health crisis in the form of the coronavirus disease 2019 pandemic; and
Whereas, There have already been over 15,000 confirmed cases of coronavirus disease 2019 in the State of New Jersey and that number is expected to climb higher throughout the month of April and beyond; and
Whereas, Under Executive Order 107, the Governor has directed all residents to remain at home until further notice, in an effort to promote social distancing and stop the spread of the disease through personal contact; and
Whereas, Social distancing has caused considerable business disruption, with many businesses closed or operating at a reduced capacity indefinitely; and
Whereas, This has caused considerable financial hardship to employees who have been laid off, furloughed, or are working reduced hours, and to business owners who have seen a considerable reduction in income; and
Whereas, This situation is consistent in every state in the country, and even those states that have not enacted orders to stay at home have seen economic hardships resulting from voluntary social distancing; and
Whereas, Without government intervention, this large-scale business disruption will result in rampant unemployment, long-term damage to financial markets, and irreparable harm to communities across the country; and
Whereas, Government intervention in the form of the provision of liquidity to affected businesses would be of considerable assistance to any business, regardless of industry, location, or size; and
Whereas, The proposed COVID-19 Business and Employee Continuity and Recovery Fund allows for the distribution of federal funds and liquidity to impacted businesses and their employees; and
Whereas, Funding provided by the COVID-19 Business and Employee Continuity and Recovery Fund will help businesses retain and rehire employees, maintain worker benefits, and meet operating expense obligations, and includes strong anti-abuse provisions, including audits and Special Inspector General oversight; and
Whereas, Federal assistance is
therefore needed to help all businesses in the State and in the country; now,
therefore,
Be It Resolved by the Senate of the State of New Jersey:
1. This House respectfully urges the President of the United States and the United States Congress to support the creation of the COVID-19 Business and Employee Continuity and Recovery Fund.
2. Copies of this resolution, as filed with the Secretary of State, shall be transmitted by the Secretary of the Senate to the President and Vice President of the United States, the Majority and Minority Leader of the United States Senate, the Speaker and Minority Leader of the United States House of Representatives, and to every member of the Congress elected from this State.
STATEMENT
This resolution urges the President and Congress of the United States to support the creation of the COVID-19 Business and Employee Continuity and Recovery Fund. This fund would provide liquidity to businesses impacted by business disruption resulting from the coronavirus disease 2019 pandemic.
This fund would facilitate the distribution of federal funds and liquidity to impacted businesses and their employees. Funding provided by the COVID-19 Business and Employee Continuity and Recovery Fund is designed to help businesses retain and rehire employees, maintain worker benefits, and meet operating expense obligations. It includes strong anti-abuse provisions, including audits and Special Inspector General oversight.
