Senator Kevin O’Toole, a member of the Senate Budget and Appropriations Committee, issued the following statement today regarding the unemployment figures released by the Corzine Administration:
“For many years, payments into the state Unemployment Insurance Fund that middle-class families paid were diverted. These diverted monies were used to support other programs totally unrelated to providing benefits for the jobless.
“Now that unemployment is at historically high levels, the fund put in place to protect families facing joblessness is dangerously depleted. Rising unemployment will undoubtedly place more strain on the fund.
“The UI fund is so diminished that it could possibly cause the state to impose higher taxes on businesses. In this poor business climate, raising taxes would be nothing short of disastrous.
“Higher taxes and fees, more debt and runaway spending all contributed to the current economic downturn. In short, the policies promoted by Governor Corzine have been, at best, detrimental to the state economy.”
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July 11, 2011
