IRMA Rep Urges State To Use Unemployment Funds To Pay Debt

None of the more than $8 billion the state of Illinois got from federal taxpayers is going to the state’s unemployment debt some have projected to be nearly that much. Illinois Retail Merchants Association’s Rob Karr said the interest could be up to $60 million if the debt isn’t paid off. If federal funds aren’t used to pay the debt, Karr said there’ll likely be tax increases on employers, benefit reductions or both.