Transcript

The Great Recession took its toll on the entire country, and since then, states have worked tirelessly to improve the labor force and pay off unemployment insurance debt.

Indiana was one state that accrued billions in federal loans, and local employers are still on the hook for roughly $327 million in penalties for an outstanding unemployment loan balance if something isn’t done by the end of 2015.

One solution is new legislation that would reroute state funds to cover the debt. If passed, the law would help Indiana pay off its loans as soon as this year – roughly four years ahead of schedule.

If this happens, employers will soon see lower unemployment insurance taxes and significant savings.

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