And guess who gets to pick up the tab. You get three, and the first two don’t count. Here are the scofflaws:
At least four Democratic-led states with budget surpluses this year have chosen not to fully repay the federal government for money borrowed to fund unemployment benefits, a move that will impose increased charges on businesses to help make up the difference.
California, Connecticut, Illinois, and New York have directed surplus funds to social programs and taxpayer rebates, among other causes, leaving unpaid debts to the federal government ranging from tens of millions of dollars to more than $15 billion.
This is the Progressive-Democratic Party at the State level treating loans as grants. Of course, that’s entirely consistent with Party’s attitude toward student loans, so we shouldn’t be surprised.
Ken Pokalsky, Business Council of New York State Vice President:
We’re going to be at elevated levels of taxes for a decade[.]