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.