Business Report: Changing health care, Rutgers labor contract, corporate tax rate

New report looks at how COVID-19 pandemic has been a game changer for NJ's vast health care industry

The COVID-19 pandemic has been a game changer for New Jersey’s vast health care industry, and a new report looks at how the industry can emerge stronger and work better. The report, released Wednesday by the New Jersey Healthcare Quality Institute and BioNJ, calls for developing and retaining health care workers; supporting new payment and delivery models, like telehealth, and making sure that more people have access to health care.

New labor agreements between Rutgers University and some of its large faculty and staff unions avert any layoffs through the end of this calendar year. But some workers will have to take furlough days in the next few months. Pay increases are on ice until July 1, and a hiring freeze also remains in effect.

Business groups are speaking out against the Biden administration’s plan to raise corporate taxes. The plan, which was formally released Wednesday, would raise the tax rate to 28% from 21%. Meantime, some New Jersey lawmakers are saying any tax-code changes should include a repeal of the SALT cap which hurt high-tax states like New Jersey.

WATCH: Business Report: Reducing NJ debt, Jersey City workers, selling stake in casino

MORE: Business Report: Small business aid, push for electric vehicles, some IRS refunds