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Texas is running out of money to pay unemployment benefits. People will still get paid, but business
Texas is running out of money to pay unemployment benefits. People will still get paid, but businesses may see tax hikes as a result.by Clare Proctor, Texas Tribune
Texas is running out of money to pay the growing number of people lining up for unemployment relief, economic experts say.
If you just lost your job, don’t worry. State officials say you’ll get your check.
But if you’re an employer, you might see taxes hike in the future because the state will have to borrow federal money to plug the hole.
More than 1 million Texans lost their jobs and filed claims from March 15 to April 11 as a result of the coronavirus pandemic. The Texas Workforce Commission has paid out more than $400 million in benefits so far and is expected to pay hundreds of millions more based on the mounting claims filed.
Read more: https://www.texastribune.org/2020/04/16/texas-unemployment-running-out-money/
