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Sat May 16, 2020, 11:53 PM

Texas Prepares For Federal Loan For Unemployment, Will Need To Raise Business Taxes

The State of Texas has nearly exhausted its $1.9 billion Unemployment Trust Fund. The Texas Workforce Commission expects it to run out of money in the next three weeks.

The Fund has been hammered by soaring unemployment, with 2.5 million Texans filing claims since March 14.

“By 2019 numbers, that's over three years of claims in just two months time,” said Francisco Gamez, TWC spokesman, in a recent Twitter video.

The latest weekly jobs report showed 141,000 new unemployment claims, which while high is still more than 103,000 less than the week before. Despite the good news, the state’s weekly payout on claims has exploded. Since mid-March, the Fund has paid claims at an average of $170 million per week. That’s more than most entire months in 2019. In recent weeks it has exploded to more than $360 million a week.

Read more: https://www.tpr.org/post/texas-prepares-federal-loan-unemployment-will-need-raise-business-taxes

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Reply Texas Prepares For Federal Loan For Unemployment, Will Need To Raise Business Taxes (Original post)
TexasTowelie May 16 OP
Midnight Writer May 17 #1
duforsure May 17 #2

Response to TexasTowelie (Original post)

Sun May 17, 2020, 01:32 AM

1. Meanwhile, the two GOP Senators from Texas are blocking Federal relief for States.

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Response to TexasTowelie (Original post)

Sun May 17, 2020, 06:57 AM

2. Cruz and Cornyn

I think also they voted to reduce funding for medical supplies Obama requested in 2017 after zika hit, after supplies were reduced. trump likes to claim the supplies were gone, but claims Obama failed. He didn't , its people like these two Texas Senators that have failed, and failing now allowing a criminal to stay in control, and causing 90,000 deaths. Cornyn is up for re-election in Nov., and hopefully enough this time will vote him out of office, and with all other Republicans before they kill us all. Both of them will support trump destroying Medicaid , Medicare , and SS, and did vote also reducing funds to those three programs with their tax scam bill they passed in 2017. trump and these two hate older people getting anything, and hate people getting affordable health care, and both are liars . Vote people .

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