The Illinois Legislature has passed a new legislation that could save the state millions on unemployment insurance. The legislation is expected to net taxpayers’ savings of approximately $240 million and the state another $1.6 billion in federal taxes. The new legislation will allow the state’s Department of Employment Security to pay off some of the debt the state incurred from borrowing money from the Federal Unemployment Account in early 2008 in an effort to keep unemployment benefits afloat. The new plan will reward businesses that have avoided layoffs with an…
Read MoreFriday, October 11, 2024
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