Biz groups suggest debt repayment with Biden $6.4B for COVID recovery April 5, 2021
12:54 pm
Several of the New Jersey’s largest chambers of commerce and business trade groups are floating a major paydown of some of the state’s $44 billion in debt using federal relief funds from the Biden administration, as part of the first step for recovery from the COVID-19 recession.
New Jersey is slated to get roughly $6.4 billion in federal aid under the relief plan that President Joe Biden signed in March. Another $4 billion is going to municipal and county governments, another $2 billion toward New Jersey Transit, and hundreds of millions of dollars for the state’s airports.