The ailing Unemployment Compensation Fund would get an injection of money raised through the sale of bonds and would be shored up by increased business contributionsunder a bill receiving preliminary approval in the House. A voice vote moves the bill forward. The bill calls for hundreds of millions of dollars in bonds to be sold so the state can pay back the federal government. Washington has been propping up the fund since its collapse in March of last year. The bonds would offer cheaper financing of the debt that then would be paid off through increased business contributions.
Leave a Reply