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Lawmakers Urge Direct Paydown of Unemployment Insurance Debt, Cite Business Strain
Summary
Senators and Assembly members at a joint Economic Development subcommittee hearing urged the Legislature to address the unemployment insurance trust fund debt and clarify frequency-of-pay litigation rules, saying the liabilities and business climate are driving firms and jobs out of New York.
Albany — Lawmakers on the New York Legislature—s Economic Development joint subcommittee pressed for immediate action on the state—s unemployment insurance trust fund debt and for statutory clarification on pay-frequency litigation, saying both issues are harming businesses and costing jobs.
Senator George Borrello, a member of the subcommittee, said the unemployment insurance debt has been "crushing for our businesses" and urged a straightforward payoff. "About 6 and a half billion dollars left, let's just pay it off," Borrello said.
The discussion focused on how the debt and recent litigation over pay-frequency rules have increased…
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