Illinois borrows to pay unemployment benefits

by Kristina Rasmussen Add this to Illinois’s debt tab. According to the State Journal-Register: Illinois has borrowed more than $2.2 billion from the federal government since July 2009 to pay unemployment benefits. Unemployment benefits are funded through withholding taxes on employers; raising those taxes in a fragile economy is a non starter.  

by Kristina Rasmussen

Add this to Illinois’s debt tab. According to the State Journal-Register:

Illinois has borrowed more than $2.2 billion from the federal government since July 2009 to pay unemployment benefits.

Unemployment benefits are funded through withholding taxes on employers; raising those taxes in a fragile economy is a non starter.