West Virginia MetroNews – Gov. Jim Justice announced today that the administration paid off the final $185 million on an interest-free federal loan that had been used as cushion for the state’s unemployment trust fund. Read the full article.
The administration had set aside hundreds of millions of dollars in CARES Act funding in anticipation of paying off the loan.
In the announcement, the governor said an overall $220 million deposit into the unemployment trust fund would provide enough flexibility to give employers a break next year on the cost of unemployment insurance.