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Tuesday - June 16, 2020
by John Reitmeyer of NJ Spotlight
Loan would cover unemployment fund — which has paid out more than $6 billion in recent weeks — through end of October
Gov. Phil Murphy’s administration is preparing to borrow nearly $2 billion in federal funding to ensure all out-of-work New Jersey residents will continue to receive unemployment benefits during the ongoing pandemic.
The borrowing will backstop a state unemployment fund that has already distributed more than $6 billion in state and federal funds in recent weeks to jobless residents.
The Murphy administration is pl...
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