Missouri has until Friday to submit a proposal to satisfy the U.S. Labor Department that the State is on track to paying back $380-Million in unemployment benefits money borrowed from the federal government. And, State officials expect that proposal will be presented on time. Missouri’s unemployment benefits fund is empty, and the State has been borrowing federal money to pay jobless benefits. By Friday, the State must submit a pay-back proposal. Tammy Cavender with the State Labor Department says federal rejection could cost employers because the federal government might reduct or eliminate federal tax credits to businesses. Missouri must show legislation is in place to ensure solvency of the fund – it is; It must be able to pay the money advanced so far this year – it can. And, it must demonstrate there will be enough money in the fund to pay benefits through the end of next January. A federal decision is expected within a few months.
You are here: / / Friday Deadline Looms For Unemployment Fund Repayment Proposal