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TRENTON – Legislation that would cut the unemployment insurance tax rates that will be imposed on employers during the upcoming fiscal year was introduced in the Senate on Monday, a move that would help businesses in New Jersey work through the difficult economy and save or add jobs, according to Senator Fred Madden (D-Gloucester/Camden), the bill’s sponsor and chairman of the Senate Labor Committee.

“These savings are especially important to small businesses that are working hard to make it through the difficult economy,” said Senator Madden. “The reduced costs will help them retain and add employees at a time when we should do all that we can to create jobs and spur economic growth. This is good for employers and employees alike.”

TRENTON – Legislation sponsored by Senate Labor Committee Chairman Fred Madden (D-Gloucester/Camden) to cut the unemployment insurance tax rates that will be imposed on employers during the upcoming fiscal year, which would help businesses in New Jersey work through the difficult economy and save or add jobs, was approved today by the committee.

“These savings are critical to helping small businesses remain afloat in this difficult economy,” said Senator Madden. “This tax break will help them retain and add employees at a time when we should be doing all we can to help spur job-creation and economic growth. This is a commonsense bill that helps employers and workers alike.”