How long will it take South Carolina to pay off the federal loan and interest due? Is South Carolina the only state in debt to the Federal Government for unemployment loans?
The General Assembly has directed the agency to set tax rates each year so that the state will be able repay all outstanding loans to the federal government for unemployment insurance purposes by 2015. The state’s final interest payment on that loan is expected to be paid September 30, 2015. South Carolina is one of 31 states currently borrowing from the federal government to continue making unemployment benefit payments to laid off workers. All states will have to determine their own plan for repaying these loans and how quickly they want to repay them.
Related Questions
- My mom is in debt deep and takes out loans all the time to either pay the mortgage or pay off another debt. Why do loan companies allow this, except for the fact that they don care?
- Where is the County getting the funds to construct the bridge? Is the State or Federal government helping pay for this bridge?
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