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Posts tagged UI Tax
Unemployment Insurance Fund Debt Could Decimate Struggling Businesses

At the start of the pandemic, California’s unemployment insurance fund did its job, softening the blow of job losses suffered by millions of workers—but COVID completely wiped the fund out. In order to provide unemployment benefits after the UI fund was emptied, California borrowed over $21 billion from the federal government. Now, California is faced with a dilemma: pay back the debt or steeply raise taxes on employers.

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