Unemployment Debt

State to reduce $1.8 billion federal unemployment debt by $450 million

September 30, 2022 | By JERRY NOWICKI, Capitol News Illinois

SPRINGFIELD – Gov. JB Pritzker announced a plan Tuesday to reduce a $1.8 billion Unemployment Insurance Trust Fund deficit by $450 million through an infusion of unemployment-related revenues. The trust fund is the pool of money paid into by employers to provide a social safety net for unemployed individuals. The employer’s insurance premiums are essentially…

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Still no action on addressing Illinois’ $4.4 billion unemployment debt

November 9, 2021 | By Greg Bishop, The Center Square

If nothing is done soon to address Illinois’ unemployment trust fund debt, employer groups say the costs to do business in Illinois will continue to increase. Illinois is past due on its unemployment insurance trust fund debt and the interest continues to grow. As of Monday, the U.S. Treasury showed Illinois’ outstanding unemployment trust fund debt is…

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