The state made an early payment to the U.S. Treasury on a loan used to cover unemployment benefits. It was the state’s final payment and the feds got it six months early.
Since March of 2009, Rhode Island borrowed nearly a billion dollars to cover unemployment benefits. The state made its final payment on that lump sum six months early, saving businesses more than $50 million next year. It will save local businesses said department of Labor and Training director Charles Fogarty.
John Marion, executive director of Common Cause of Rhode Island, joins Political Roundtable this week to discuss the new legislative session; the battle over extended unemployment benefits; and the 50th anniversary of the War on Poverty.
Senator Jack Reed says he’s pleased a bill he co-sponsored to extend unemployment benefits for 90 days has moved forward in the Senate on a procedural vote. And he’d like to see it continue to move forward without having to negotiate how to pay for it. But Reed says he’s open on that point.