NJECPAC & NJ-IEC Partnering to Protect You And Your Business

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New Jersey, United States
NJECPAC is a Continuing Political Committee (CPC). A CPC is any group of two or more persons acting jointly, or any corporation, partnership, or any other incorporated or unincorporated association, civic association or other organization, which in any calendar year contributes to aid or promote the candidacy of an individual, or the candidacies of individuals, for elective public office, or the passage or defeat of a public question or public questions, lobby for the passage or defeat of certain legislative bills introduced in the NJ Legislature in accordance with N.J.S.A. 19:44A-8(b). A CPC is frequently referred to as Political Action Committee (PAC). The NJECPAC was formed to provide funding for legislative initiatives of its members and its member organizations representing the interests of Electrical Contractors, Small Businesses and Taxpayers throughout the State of New Jersey.

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Monday, November 1, 2010

Vote Yes On Ballot Question to Dedicate Employee Benefit Funds

Stop raids on the unemployment insurance (UI) fund and other payroll-tax-supported programs will be decided in the November 2 election.

In addition to choosing members of Congress as well as county and local officials, voters in this election will be asked to vote on a constitutional amendment that would prohibit state government from taking your payroll tax payments to the unemployment insurance fund and temporary disability fund to pay for general state government spending.

We urge you and your employees to vote yes on the ballot question: "Constitutional Amendment to Dedicate Assessments on Wages by the State to the Payment of Employee Benefits."

For many years, the Legislature has been taking your UI tax payments to help balance the state budget. The Unemployment Insurance fund was created to build up cash reserves in good economic times so employers wouldn't have to pay higher payroll taxes in a recession, when they can least afford it. 

Between 1993 and 2005, past administrations of both parties depleted the fund to the tune of $4.7 billion in UI payroll tax diversions. As a result, employers are now getting hit with higher taxes to ensure the UI fund can pay unemployment benefits. If the fund had just been left alone, there would be plenty of money to pay benefits without raising taxes.

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