FROM THE NEWSROOM: HARTFORD, Conn. (AP) — Nearly 100,000 employers in Connecticut are about to get sticker shock as the state mails annual tax bills to pay interest on its $433 million federal loan for workers unemployment benefits. The bills being mailed Friday and due Aug. 29 are expected to be the highest in the United States this year. Thirteen states and the Virgin Islands owe the federal government $14.33 billion for unemployment insurance funding borrowed to help unemployed workers during the recession and weak recovery. Connecticut has cut its debt from $810 million in 2009. The debt is expected to be gone by 2016. Businesses are paying more because Connecticut did not seek a federal waiver. Bruce Berman, a state labor official, said refusing the waiver spikes payments now but will be less costly over time with reduced interest.
Posted on: Thu, 31 Jul 2014 18:13:39 +0000
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