The Commonwealth will tap into funds borrowed from the US Treasury, which was arranged in September by outgoing Governor Tim Kaine. The funds will carry interest payments of about $36.7 Million. The last time this kind of borrowing was necessary was in 1983. From the article:
For small retailers, the financial pressure from weak sales and higher unemployment taxes could be intense....[t]he deficit in its unemployment-benefits fund will hit $194 million by the end of this year and balloon to $561 million by the end of 2010, the Virginia Employment Commission said.