Home>Congress>Murphy: $200-odd billion to unemployment insurance fund ‘should be enough’

Gov. Phil Murphy. (Photo: Kevin Sanders for the New Jersey Globe)

Murphy: $200-odd billion to unemployment insurance fund ‘should be enough’

Governor expresses optimism about possible federal bailout

By Nikita Biryukov, March 24 2020 4:15 pm

Gov. Phil Murphy said he believed a national bailout program that provides more than $200 billion to the federal unemployed insurance fund would likely be sufficient to help New Jersey cover skyrocketing unemployment claims spurred by the COVID-19 crisis.

“Sen. [Bob] Menendez, I believe, told me that the unemployed insurance fund was 200-and-something billion. Without having done to-the-fifth-decimal-place math for New Jersey … between the state’s fund and the federal money, that should be enough,” Murphy said.

While exact figures on the state’s rising unemployment rates are scarce at the moment, roughly 15,000 filed online unemployment claims last Monday.

The swell, which almost double the unemployment claims submitted in the first week of March, crashed the online application system.

That wave of applications came before Murphy’s Saturday order that mandated the state’s non-essential businesses close.

Though Democrats and Republicans are reportedly close to a deal, the bailout package is still being negotiated.

Some measure of aid for the federal unemployment insurance fund will almost certainly exist in the final version, though the numbers may change before it reaches President Donald Trump’s desk.

Spread the news:
Filter by
Post Page
Highlight Governor Local Essex Feature The Inside Edge
Sort by

Murphy, DiVincenzo showing off new alliance

Democrats will announce plans for new Dr. Martin Luther King, Jr. government
January 22, 2020 11:54 am


Norcross can’t take Murphy in primary, but could cost him re-election

Blue Jersey hasn’t re-elected a Democratic governor since 1977
May 13, 2019 12:56 am


Murphy must decide if he wants to keep Flora Castillo on NJ Transit board

On board of embattled agency since 1999, Castillo attends most meetings by phone
February 19, 2019 9:53 am