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

The recent stimulus package waives federal taxes on up to $10,200 worth of unemployment benefits paid out per person

The state will provide more funds to New Jersey’s smallest businesses. Gov. Phil Murphy signed a bill to provide $25 million in aid to businesses with five or fewer employees. The legislation was one of a package of bills that would provide a total of $100 million to businesses across the state. The governor says he will be signing additional aid bills later this month.

A policy group wants NJ Transit to quickly replace its entire diesel bus fleet with electric vehicles. New Jersey Policy Perspective says that would be better for the environment and would help to reduce the financial impacts of climate change. Converting the fleet would cost $5.7 billion, and the group suggests diverting funds from planned road projects to finance the conversion.

New Jersey drivers would have to pay an additional toll to travel into Manhattan, under a congestion pricing plan that is advancing in New York. The state wants to set up tolls for vehicles coming into Manhattan below 60th Street. If the Federal Highway Administration signs off on the proposal, New York would be the first city in the country to implement congestion pricing. Money raised would be used to fund mass transit.

The recent stimulus package passed by Congress waives federal taxes on up to $10,200 worth of unemployment benefits paid out per person, but some people filed their taxes before that tax break became law. So now, the IRS says those people will be sent refunds, starting the first week in May.

READ: NJ’s bus fleet should go all-electric, advocates say

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