'How much do we hate jobs in this state?' The fight over Illinois' unemployment insurance debt will hit job creators
There’s a battle brewing in the Illinois Senate over how much of the state’s remaining $3.5 billion in federal COVID aid should be used to repay the state’s $4.5 billion in unemployment debts. Illinois’ Unemployment Insurance Trust Fund, normally financed by taxes on state businesses, was wiped out after hundreds of thousands of Illinoisans filed unemployment claims as a result of the pandemic lockdowns. The federal government loaned Illinois the $4.5 billion so the state could issue unemployment checks.