Establishes commission to study effects of COVID-19 on small businesses.
If enacted, AJR72 would create a commission consisting of eleven members, with appointments made by various state officials, including the Governor and legislative leaders. The commission's primary responsibilities will include studying the challenges faced by small businesses during the COVID-19 outbreak, evaluating the effectiveness of government resources and support measures, and identifying the particular needs of different types of small businesses. A report summarizing its findings is expected to be submitted to the Governor and Legislature within twelve months of its first meeting, which could influence future policymaking and resource allocation.
AJR72 is a joint resolution that proposes the establishment of a 'Small Business Assistance Commission' aimed at assessing the economic impact of the COVID-19 pandemic on small businesses in New Jersey. The resolution underscores the severe disruptions caused by social distancing measures during the pandemic, which forced many small businesses to close or operate with limited capacity. This has resulted in significant financial losses, layoffs, and reduced income for both business owners and employees, leading to a ripple effect impacting larger corporations that depend on small businesses. The resolution emphasizes the importance of preparing small businesses for any future crises by equipping them with necessary resources and information.
The establishment of this commission may attract differing opinions regarding its composition and scope. Supporters argue that this initiative is essential in addressing the unique struggles of small businesses and in promoting their recovery from the pandemic-induced economic crisis. Conversely, opponents may raise concerns regarding bureaucratic inefficiencies or the potential for the commission to be influenced by political considerations rather than purely focusing on the needs of the small business sector.