Tuesday, September 20, 2011

Unemployment Loans Due for States

States will begin repaying more than one billion to the federal government for loans used to pay unemployment benefits. The question is, where is the money going to come from? Some will have to increase business tax bills to cover the repayment. Interest payments must begin October 1st as the interest free loan expired in December. In February, Obama asked Congress to extend the help and delay any impending tax hikes, but Republican resistance and general criticism of the $830 billion stimulus plan muted the possibility of a continuation. The impact on some states' finances will be mild as they had time to prepare for the payments. Others must find funds to cover another bill on top of other spending demands for health and social programs. California, Michigan, Pennsylvania, New York, and North Carolina have to send in the biggest interest payments. There is around 37 billion in principal outstanding.

1 comment:

  1. Hello Everybody,
    My name is Mrs Sharon Sim. I live in Singapore and i am a happy woman today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of $250,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of $250,000.00 SG. Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs Sharon, that refer you to him. contact Dr Purva Pius,via email:(urgentloan22@gmail.com) Thank you.