Beshear Signs Deal on Unemployment Loan Interest Payments Into Law

Governor Steve Beshear has signed a plan to save employers from federal unemployment insurance tax hikes into law. At his first ceremonial bill signing of the year, Beshear praised lawmakers and the business and labor communities for reaching a compromise. House Bill 495 would allow Kentucky to borrow money from a state organization to repay […]

Unemployment Insurance Deal Passes Senate

The Kentucky Senate has passed an amended bill that would help the state repay interest on a federal unemployment insurance loan. And despite concerns that the Senate amendments would derail the proposal, the bill’s original House sponsor has agreed to the changes. The amendment by Senator David Givens would defer an increase in the taxes […]

Senate Proposes Changes to Unemployment Loan Interest Payment, Putting Plan in Danger

A Kentucky Senate committee’s changes to a bill to repay a federal loan could derail the plan. The state borrowed nearly a billion dollars during the recession to shore up the unemployment insurance fund. In 2010, lawmakers approved a plan to repay the loan through higher taxes on employers. This year, the House approved a […]

House Passes Bill to Address Unemployment Loan Interest Payments

A bill designed to help pay federal interest payments is one step closer to becoming law. The measure passed the House unanimously today, although a few Republicans expressed concerns over the bill. The bill would let the state borrow money to help make federal interest payments on a loan Kentucky took out during the recession. […]

Plan to Repay Interest On Unemployment Loan Passes House Committee

A compromise to help employers avoid high federal unemployment insurance taxes has easily cleared a House committee. The proposal would allow Kentucky to borrow money from a bank or other organization to repay federal loans. Kentucky borrowed nearly one billion dollars from the federal government to pay for unemployment insurance during the recession. Up until […]

Proposal to Repay Federal Loan Interest Could Save Kentucky Employers From Extra Fees

A deal to help Kentucky repay a federal loan is officially on the table. During the recession, the commonwealth borrowed more than $900 million from the federal government to shore up the unemployment insurance fund. In 2010, the General Assembly approved a plan to repay the debt over time. But when that measure passed, lawmakers […]

New Indiana Unemployment Law Takes Effect Saturday

Indiana workers taking voluntary buyouts will no longer eligible for state unemployment benefits starting tomorrow, and severance pay will be counted against unemployment payouts. Those are among the provision of the state’s new unemployment law. The changes are part of Indiana’s plan to pay off a $2 billion loan from the federal government. Lawmakers approved […]