Buono Backs Move To Replenish UI Fund And Avoid Business Tax

TRENTON � 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.�