On October 11, 2023, the Government Accountability Office (GAO) released a report reviewing how State and Local Fiscal Recovery Fuds (SLFRF) were spent and/or obligated. See GAO-24-106753, COVID-19 Relief: States’ and Localities’ Fiscal Recovery Funds Spending as of March 31, 2023 The report shows spending as of March 31st, noting that Contributions to state unemployment insurance trust funds [...]
The COVID-19 recession has significantly impacted the solvency of state UI Trust Fund Accounts. A snapshot of the status of accounts as of September 16, 2020 shows that 21 states have already requested authorization to obtain loans from the Federal Unemployment Account because state unemployment trust fund balances have been or will be exhausted. (see below) [...]
In a letter dated July 24, 2020, UWC urged Congress to address UI Solvency issues with four specific provisions that should be enacted to reduce the tremendous financing burden on employers and state unemployment trust funds caused by COVID-19 closures. The request includes the following: Provide for a transfer of federal funds to state UI trust [...]
