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BUONO BACKS MOVE TO REPLENISH UI FUND AND AVOID BUSINESS TAX
By jmanionTRENTON – Senator Barbara Buono, Chair of the Senate Budget & Appropriations Committee, today called for bipartisan legislative support for Governor Corzine’s proposal to replenish depleted balances in the Unemployment Insurance Trust Fund with surplus revenues.
“This is the right fix for these tough times,” said Senator Buono, D-Middlesex. “It will help right the wrongs of the past and we should be united in our support.”
Senator Buono said she “fully supports” the Corzine Administration’s proposed use of $260 million in current surplus funds to avoid triggering an automatic tax levy on businesses to generate $350 million. She also said it makes good sense to extend the tax trigger date to June 30.
“Leaders of both parties have raided the UI Fund in the past like it was a boundless source of revenues,” said Senator Buono. “Govenor Corzine has wisely stopped those raids. But now we need to stand together and help businesses and workers through the perils of this national recession.”
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