Governor Murphy Lying About Nearly $2 Billion In Relief Funds

May 4, 2020
Governor Murphy Lying About Nearly $2 Billion In Relief Funds
NJGOP Calls On Murphy To Release To Small Businesses

Trenton, NJ – Governor Murphy is telling a massive $1.8 billion lie. While he squirrels away nearly $2B in CARES Act funding, millions of New Jersey businesses and residents are struggling.

At one of his daily press briefings just over a week ago, Murphy claimed“Treasury’s guidance renders much of this funding literally unusable, and without additional flexibility, will mean we will likely not be able to use it, but we’ll have to return a good chunk of it to the federal government.”

However, guidance from the Federal Treasury Department states clearly that these funds can be used to help struggling small businesses. Section 5 of this document reads as follows:

Eligible expenditures include, but are not limited to, payment for:

Expenses associated with the provision of economic support in connection with the COVID-19 public health emergency, such as:

  • Expenditures related to the provision of grants to small businesses to reimburse the costs of business interruption caused by required closures.

Since receiving CARES act funding, Governor Murphy set up just one, $5 million small business grant through the New Jersey Economic Development Authority. After an hour, over 10,000 businesses applied, and over the next week, another 22,000 battered, New Jersey businesses submitted applications. According to this report, though, only 1,250 to 2,000  small businesses will actually receive any grant money. Meanwhile, Governor Murphy is holding back $1.8 billion that could be allocated to the remaining. 30,000+ applicants. 

“Governor Murphy is sitting on a nearly $2 billion mountain of money that could save New Jersey small businesses, and he’s lying to all of us about it,” said NJGOP Chairman Steinhardt. “The CARES Act was meant to help people who are directly impacted by the COVID-19 pandemic like frontline medical workers, small business owners and their employees, and people infected with COVID-19. But instead of putting that money to use helping struggling small businesses, Murphy is hoarding it hoping he can use it to balance his bloated budget. New Jerseyans should demand that the Governor send that money where it belongs, to create jobs, save businesses and help New Jersey’s nearly 1 million unemployed.”