MN State Representative Tony Jurgens of Cottage Grove recently provided an update to the state’s Unemployment Insurance Trust Fund, which needs to be replenished. He reports that there are positives and negatives to report regarding the status of the State’s repayment of funds loaned by the Federal Government.
Because the fund is more than one billion dollars in debt, the State of Minnesota is spending 50 thousand dollars every day for interest payments on the federal loan, and every local employer will be forced to pay tax increases of 15% or more in order to help solve the problem, according to Jurgens.
