Business leaders to meet with Beshear on unemployment insurance problem
Gov. Steve Beshear addresses members of the Kentucky Farm Bureau during a gubernatorial forum in Louisville, Ky., Wednesday, July 20, 2011. Beshear and Republican challenger David Williams reached out to Kentucky farm leaders Wednesday in their first joint appearance of the general election campaign, promising their full attention to agricultural matters if elected on Nov. 8. (AP Photo/Ed Reinke) ED REINKE — AP
FRANKFORT — Business leaders will meet with Gov. Steve Beshear on Tuesday to discuss how the state can make a $28.5 million interest payment on a federal government loan used to shore up the state's unemployment benefits.
If the state defaults on the payment Sept. 30, Kentucky businesses and the state could lose more than $571 million in federal tax credits and appropriations.
Bryan Sunderland, vice president of public affairs for the Kentucky Chamber of Commerce, said Friday that business leaders will meet with Beshear to discuss solutions.
Without a plan to repay the interest, Kentucky businesses could lose a federal tax credit that could cost 80,000 Kentucky businesses about $357 per employee, according to the latest estimates by the Office of the State Budget Director. There are more than 1.6 million Kentucky workers who are covered by unemployment insurance benefits.
"It could result in job losses," Sunderland said.
He stopped short of saying whether a special legislative session was needed to address the issue. Senate President David Williams, R-Burkesville, who is running against Beshear in the fall election, asked for a special legislative session Thursday so the legislature could give Beshear the authority to use about $20 million of a $121 million surplus to repay the loan.
Beshear officials told a legislative committee Thursday that the state has about $8.5 million it can use to repay part of the $28.5 million interest payment.
But House Speaker Greg Stumbo, D-Prestonsburg, said Friday that he is not sure a special session is needed, and he questioned whether state General Fund money should be used for the interest payment. Unemployment insurance is supported by taxes levied on businesses.
"It is premature to ask for a special session since Congress is currently in budget-related negotiations and Sen. (Mitch) McConnell and U.S. Rep. Hal Rogers are in key positions to protect Kentucky's interests," Stumbo said. "The other concern I have is that I don't think we should use tax dollars in this situation. I would like to see the Kentucky Chamber and other business leaders come up with a plan to see how we resolve this without costing the state's taxpayers.
Ky Unemployment Benefits - News
Steve Beshear on Tuesday to discuss how the state can make a $28.5 million interest payment on a federal government loan used to shore up the state's unemployment benefits. If the state defaults on the payment Sept. 30, Kentucky businesses and the
ED REINKE — APBuy Photo FRANKFORT — Kentucky businesses could lose $640 million in federal tax credits if the state doesn't appropriate money to make interest payments on a federal loan that is bankrolling unemployment benefits, Gov.
Washington -- The number of people seeking unemployment benefits dropped last week to the lowest level since early April, a sign that the job market may be healing. The Labor Department said Thursday that weekly applications fell 24000 to a seasonally
Unemployment statistics are based on estimates and are compiled to measure trends rather than actually to count people working. Civilian labor force statistics include non-military workers and unemployed Kentuckians who are actively seeking work.
34-year-old Kathleen Lebre has not yet been arrested, but police say she spent more than $2000 on a debit card her dead boyfriend had used to receive unemployment benefits. According to police, Lebre used the account to pay her insurance,
Business | Business Leaders To Meet With Beshear On Unemployment ...
FRANKFORT – Business leaders will meet with Gov. Steve Beshear on Tuesday to discuss how the state can make a $28.5 million interest payment on a federal government loan used to shore up the state’s unemployment benefits.
If the state defaults on the payment Sept. 30, Kentucky businesses and the state could lose more than $571 million in federal tax credits and appropriations.
Bryan Sunderland, vice president of public affairs for the Kentucky Chamber of Commerce, said Friday that business leaders will meet with Beshear to discuss solutions.
Without a plan to repay the interest, Kentucky businesses could lose a federal tax credit that could cost 80,000 Kentucky businesses about $357 per employee, according to the latest estimates by the Office of the State Budget Director. There are more than 1.6 million Kentucky workers who are covered by unemployment insurance benefits.
“It could result in job losses,” Sunderland said.
He stopped short of saying whether a special legislative session was needed to address the issue. Senate President David Williams, R-Burkesville, who is running against Beshear in the fall election, asked for a special legislative session Thursday so the legislature could give Beshear the authority to use about $20 million of a $121 million surplus to repay the loan.
Beshear officials told a legislative committee Thursday that the state has about $8.5 million it can use to repay part of the $28.5 million interest payment.
But House Speaker Greg Stumbo, D-Prestonsburg, said Friday that he is not sure a special session is needed, and he questioned whether state General Fund money should be used for the interest payment. Unemployment insurance is supported by taxes levied on businesses.
“It is premature to ask for a special session since Congress is currently in budget-related negotiations and Sen. (Mitch) McConnell and U.S. Rep. Hal Rogers are in key positions to protect Kentucky’s interests,” Stumbo said. “The other concern I have is that I don’t think we should use tax dollars in this situation. I would like to see the Kentucky Chamber and other business leaders come up with a plan to see how we resolve this without costing the state’s taxpayers.”
Since 2000, the unemployment insurance fund has paid out more than it has taken in. The fund ran out of money in 2008 – at the height of the economic downturn. The state has borrowed more than $948 million from the federal government since January 2009 to pay for unemployment insurance benefits.
Ky Unemployment Benefits - Bookshelf
Baldwin's Kentucky revised statutes annotated
McMillan (Ky. 1992) 841 SW2d 172. An unemployment benefits applicant was ineligible for benefits when he left his employment at a bank because an extensive ...Congressional Record
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Kentucky Unemployment Ins. Commission v. Young, 389 SW2d 451. ... of statute which permits temporary disqualification of employee for unemployment benefits ...Congressional Record, V. 144, Pt. 10, June 25, 1998 to July 14, 1998
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Office of Employment and Training Unemployment Insurance U-File
The Commonwhealth of Kentucky Department for Employment Services provides information to employers and job applicants.
https://uiclaims.des.ky.gov/ebenefit/
Welcome to the Kentucky Office of Employment And Training Unemployment Insurance Claims System web site. ... File your bi-weekly continued unemployment claim (benefit check) ...
Kentucky Department For Employment Services
Offer work search and referrals, labor market information, publications and veteran programs. Includes office locations and a FAQ.
Kentucky Cabinet for Workforce Development Unemployment Services
Unemployment insurance benefits also have an economic impact on the commonwealth with the monthly infusion of $51.5 million into Kentucky's communities. ...