3:54 pm October 20, 2011, by jgalloway
From the Associated Press:
Georgia’s labor commissioner is recommending cuts to jobless benefits in order to repay a federal loan the state took to keep its unemployment fund afloat.
Mark Butler [said] Thursday that his preliminary plan is to slash payments from $330 to $300 a week for top earners and to reduce the number of weeks that Georgians may collect and unemployment. Under Butler’s proposal, unemployed Georgians would also have to wait a week before collecting benefits.
The changes would need to be approved by state lawmakers and would not affect those already collecting benefits.
The state earlier this month paid $21 million in interest on the $721 million loan. Another interest payment will be due next year and Georgia officials want to begin chipping away at the principal.
- By Jim Galloway, Political Insider
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