By KPR
Frankfort, KY – A bill comes due in September that worries state officials and business leaders. Kentucky borrowed about 900 million dollars from the federal government for jobless benefits, and it must make a 28 million dollar interest payment. If the state falls short, the premiums paid by business for unemployment insurance could go up 400 dollars per employee or about 640 million dollars. Lebanon Senator Jimmy Higdon, who's a small businessman, says it's a scary scenario
"And to get that bill from Uncle Sam at a time like this or for 640 million dollars to be sucked out of the state of Kentucky to Washington D.C."
State budget director Mary Lassiter says her office is very much aware of the situation. She says public and private sector officials hope for a federal remedy, but realize other measures may be necessary.
A bill comes due in September that worries state officials and business leaders. Kentucky borrowed about 900 million dollars from the federal government for jobless benefits, and it must make a 28 million dollar interest payment. If the state falls short, the premiums paid by business for unemployment insurance could go up 400 dollars per employee or about 640 million dollars. Lebanon Senator Jimmy Higdon, who's a small businessman, says it's a scary scenario
"And to get that bill from Uncle Sam at a time like this or for 640 million dollars to be sucked out of the state of Kentucky to Washington D.C."
State budget director Mary Lassiter says her office is very much aware of the situation. She says public and private sector officials hope for a federal remedy, but realize other measures may be necessary.