Governor Ralph Northam announced Tuesday that the Commonwealth will commit $935.6 million in federal American Rescue Plan funding to replenish the Unemployment Insurance Trust Fund and accelerate critical upgrades to the Virginia Employment Commission.
“Shoring up the Commonwealth’s unemployment insurance trust fund is a smart investment that will prevent Virginia businesses from paying higher taxes and allow our economy to continue surging,” said Governor Northam. “These actions will also propel our modernization efforts forward so the Virginia Employment Commission can better serve those in need of assistance throughout our pandemic recovery and into the future. Together with the General Assembly, we are taking important steps to ensure Virginia remains a place where businesses, workers, and families can all thrive.”
The General Assembly will be convening next week to allocate the full $4.3 billion in ARP funding that Virginia received.
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