From State Rep. Tom Weber:
UI Bill Comes Due
Members of Congress have asked Illinois to repay $1.3 billion in unemployment debt that was part of an emergency loan granted by the federal government so Illinois could pay unemployment insurance benefits during the COVID-19 pandemic.
The State of Illinois has since made several payments to Washington to repay part of the debt, but more than $1.3 billion remains unpaid.
Since January 11th this remaining loan has been past due.
An interest payment of nearly $80 million was due on September 30th.
The October 2022 congressional letter, which could be seen as the equivalent of a letter from a collection agency to a borrower about a past-due loan, contains warning provisions of additional penalties.
Penalties that may be imposed by the federal government include a partial withdrawal of the FUTA tax credit, a tax credit granted to employers and their workplaces, which would impede Illinois’ ability to attract and retain good-paying jobs.
House Republicans like myself had warned about interest and penalties back in March when Democrats decided to not use available federal funds from the American Rescue Plan to pay off the entire debt so that taxes would not have to be raised on employers or employees.
We will once again raise the issue of how to pay off this outstanding and growing debt in the veto session.
Absolute foolishness of the Democrat controlling party.
Most other states had a plan on how to repay and implemented it.
Not Illinois as usual.
The federal government will not forgive this debt after the Republicans take over the house and senate next January.
The citizens loose again in the Land of Lincoln.
Tom why is no one doing anything about all the fraud of unemployment claims made????
go find these theives and get our dollars back while your at it…
and hold all who did Nothing while complaint after complaint was made about this! by the people .. !
follow the money!!!
follow the fraud ….