The Port Authority is taking comments on its newly introduced budget. The $7.9 billion budget put forward late last week does not include any toll hikes or increases in PATH fares but there is a slight increase for travelers who use the AirTrain to Newark or JFK airports. The cost of those rides will go up by 25 cents. The Port Authority budget comes at a time when its revenues continue to remain below pre-COVID-19 levels.
On Monday, Gov. Phil Murphy provided an update on the state’s Return and Earn program which connects job seekers with companies looking for new employees. The state gives grants to businesses to train workers and it also gives a signing bonus for those returning to the workforce. Murphy said since the announcement of the program in September, more than 3,700 New Jersey businesses have let the Department of Labor and Workforce Development know they are interested in becoming part of Return and Earn. More than 60 contracts have been signed so far and nearly $500,00 committed.
A bill to adjust New Jersey’s tax brackets to keep up with rising inflation has been introduced in the state Legislature but isn’t yet scheduled for a vote in the lame-duck session. The bill, sponsored by Sen. Anthony Bucco (R-Morris), would adjust New Jersey’s tax brackets automatically each year. Find out more here.
Holmdel-based cloud communications company Vonage is being acquired. The European company Erikson is buying Vonage for $6.2 billion. Vonage employees will stay with the company after the merger is complete.
