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LAO and Finance flag long‑term challenge: unemployment insurance debt and employer cost increases
2171365 · January 30, 2025
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Summary
LAO and Finance acknowledged the state's outstanding federal UI loan balance and warned employers face rising charges; LAO offered a forthcoming framework and recommended legislative review of solvency options.
Legislators pressed the Department of Finance and Legislative Analyst's Office about the state's unemployment insurance (UI) debt and employer assessments tied to federal loan repayments.
Committee members said employers were facing steadily rising UI charges (noted increases of $21 per employee annually in committee discussion, and a federal interest burden)…
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