Germantown Hills, Illionis St. Sen. Win Stoller and Morris, Illinois St. Sen. Sue Rezin say about $1.3 billion will be place on struggling Illinois businesses if the state doesn’t pay off the debt in the Unemployment Insurance Trust Fund. Both are Unemployment Insurance Trust Fund negotiators in the State Senate. Gov. Pritzker announced Tuesday that he and the Illinois Department of Employment Security will use $450 million to pay off some the $1.8 billion left in debt that’s left in the trust fund. Rezin says no matter how the governor tries to spin this, the state is still one of five states that still owes money in the UI trust fund. Stoller says the state could have easily fixed the debt with the $8.1 billion the state received in COVID relief money. They also say if the debt isn’t paid off by November 10th, Illinois employers will lose credit from the Federal Unemployment Tax Act. The state would normally have until January 1st, but because the debts been around for two years they have to pay it by November 10th. To learn more about the Federal Unemployment Tax Act you can click here.
State Senators Rezin and Stoller say money going toward unemployment trust fund will have no impact
Sep 28, 2022 | 3:01 PM