Fiscal Fallout: California Interest on Fraudulent COVID Benefits Rapidly Growing
Description
(The Center Square) - Since California Gov. Gavin Newsom took office in 2019, state debt payments on unemployment benefits have gone from zero to nearly $600 million this year, and could soon result in annual payroll tax increases of nearly $500 per employee, according to an analysis by The Center Square. These payments to the federal government will soon reach $1 billion per year to pay back $20 billion California borrowed to help cover what the state says was $55 billion in "ineligible" or fraudulent COVID-era unemployment insurance benefits claims, state records show.
Support this podcast: https://secure.anedot.com/franklin-news-foundation/ce052532-b1e4-41c4-945c-d7ce2f52c38a?source_code=xxxxxx
Read more: https://www.thecentersquare.com/california/article_8e023438-328b-41c0-afa7-a07582110230.html
United States
