N.J. workers to face tax hike in 2025 as state recovers from revenue loss

New Jersey workers will face higher taxes for family leave and temporary disability in 2025 due to a significant shortfall in the state’s disability benefits fund. The Department of Labor anticipates a $442 million deficit at the end of the fiscal year and the state recently proposed an interagency loan to bridge the gap. Still, workers should expect a tax hike. Average costs for temporary disability insurance would rise from zero to about $141, and family leave assessments would increase to roughly $242, compared to the $74 rate in 2024.

From New Jersey Monitor.