What happens if California does not repay federal unemployment funds?
Published On: March 8, 2022
The past two years of the pandemic have had a severe economic impact on California’s unemployment fund, which was depleted due to a massive surge in claims from people losing their jobs. Christina Gagnier talks with Tom Sheehy, Principal at the Sheehy Strategy Group and former California Department of Finance executive, about efforts to pay back federal funding that kept the claims system running. They also discuss a potential tax increase on employers if federal funding is not repaid.
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What happens if California does not repay federal unemployment funds?
The past two years of the pandemic have had a severe economic impact on California’s unemployment fund, which was depleted due to a massive surge in claims from people losing their jobs. Christina Gagnier talks with Tom Sheehy, Principal at the Sheehy Strategy Group and former California Department of Finance executive, about efforts to pay back federal funding that kept the claims system running. They also discuss a potential tax increase on employers if federal funding is not repaid.
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