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Unemployment Trust Fund

Tuesday, May 4th, 2010
governor douglas

Governor Douglas unveiled a plan today to shore up Vermont's unemployment trust fund.  The new plan would restore the empty fund in five years by raising employer taxes on unemployment insurance by sixty percent.

If the plan is not ratified by the House of Representatives and the U.S. Senate, the fifty-eight million dollars Vermont has borrowed from the Federal Government will go up to 163 million

dollars next year.  Some employers across the state are not in favor of this plan, but Governor Jim Douglas says doing nothing is just not an option.