Summary
Gov. Tim Kaine has asked the federal government for a $252 million loan to maintain Virginia's unemployment compensation program through the end of this year, underscoring the severity of the economic crisis and the needs of nearly 69,000 Virginians getting jobless benefits.
Kaine filed the loan request Tuesday with the U.S. Department of Labor. Kaine said the demand for unemployment benefits will push the state's trust fund below legally mandated solvency levels by next month, a milestone that also triggers a "fund-builder tax" requiring employers to increase their contributions to the fund.See the full content of this document
Extract
State Running Low On Money for Jobless
"The stresses placed on our unemployment compensation program reflect the stresses placed on many Virginians who have been sw...
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