Explanation:
The Recovery Act temporarily waives interest payments and the accrual in interest on loans received by state unemployment trust funds through December 31, 2010. This provision is estimated to cost $1.1 billion.
Due to the increase in benefit payments, USDOL projects increased borrowing with the result that the Unemployment Trust Fund will need to borrow $16 billion from General Revenues in FY 2010 to cover loans to states.
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