- Associated Press - Wednesday, May 11, 2016

WEST TRENTON, N.J. (AP) - Gov. Chris Christie says New Jersey’s unemployment insurance trust fund has achieved a balance of nearly $2 billion, resulting in tax savings for the state’s businesses.

Speaking Wednesday at New Jersey Manufacturers in West Trenton, Christie said his administration’s anti-fraud reforms have allowed the state’s employers to avoid paying about $380 million in taxes.

Christie’s announcement comes after saying in April the fund balance was nearly $1 billion. He says it’s now at $1.8 billion.

The Republican governor says the labor department built up the fund by cutting fraud, including using a national directory of new hires and software to detect fraudulent unemployment claims from overseas.

The administration says the fund had a peak deficit of $2.1 billion when Christie came into office but moved into positive territory in 2014.

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