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Legislators urge paying down federal UI debt to enable higher weekly benefits
Summary
Members emphasized paying down a roughly $6.5 billion federal unemployment insurance debt to restore higher weekly UI benefits and protect small businesses from future borrowing costs.
Harry Bronson, chair of the Assembly Labor Committee, and other legislators urged using significant state resources to pay down the state’s federal unemployment insurance (UI) debt so benefits can increase and small businesses are not further burdened.
Bronson told the subcommittee the state still owes about $6,500,000,000 to the federal government for UI borrowing and that the current maximum weekly…
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