TALLAHASSEE, Fla. (AP) -- Unemployment compensation taxes paid by Florida businesses will skyrocket next year due to the state's high jobless rate - 11 percent in September.
The increases are needed to replenish the state's Unemployment Compensation Trust Fund. It dropped from more than $1.3 billion last year to zero in August. Florida then began borrowing $300 million a month from the federal government to pay benefits.
That's your Republican economic philosophy in action. I wonder if they will try to paint THAT as a tax cut....